In this paper, we study the initial boundary value problem and vanishing viscosity limit for incompressible axisymmetric Navier–Stokes equations with swirls in the exterior of a cylinder under Navier-slip boundary condition. In the first part, we prove the existence of a unique global solution with the axisymmetric initial data
u
0
ν
∈
L
σ
2
(
Ω
)
and axisymmetric force
f
∈
L
2
(
[
0
,
T
]
;
L
2
(
Ω
)
)
. This result improves the initial regularity condition on the global well-posedness result obtained by K Abe and G Seregin (2020 Proc. R. Soc. Edinburgh A 150 1671–98) and extends their boundary condition. In the second part, we make the first attempt to investigate the inviscid limit of unforced viscous axisymmetric flows with swirls and prove that the viscous axisymmetric flows with swirls converge to inviscid axisymmetric flows without swirls under the condition
‖
r
u
0
θ
ν
‖
L
2
(
Ω
)
=
O
(
ν
)
. Some new uniform estimates, independent of the viscosity, are obtained here. The second result can be thought as a follow-up work to the previous work by K Abe (2020 J. Math. Pures Appl.
137 1–32), where the inviscid limit for the same equations without swirls in an infinite cylinder was studied.