Centrifugal pumps are essential fluid transfer devices in marine engineering. As the two most critical components of a centrifugal pump, the dynamic–static interference between the volute and the impeller makes the flow near the cutwater highly unstable, with significant and erratic pressure pulsation, which seriously affects the stability of the operation. The impeller can be improved by cutting the hub, which helps stabilize the flow and reduce pressure pulsation near the cutwater, thus minimizing hydraulic loss. In this study, four different cutting angles were applied to the impeller hub. Computations are conducted using large eddy simulation to analyze the flow and pressure pulsation near the cutwater. Compared to the prototype pump, the modified impeller exhibits a significant reduction in pressure gradient near the blade outlet close to the cutwater. The modified impeller also shows a more uniform flow and lower amplitude of pressure pulsation. Furthermore, under various flow conditions, the centrifugal pump with the modified impeller exhibits lower hydraulic loss compared to the prototype pump, indicating that this method effectively suppresses hydraulic loss.