− Characteristics of holdup and flow behavior of fluidized solid particles were investigated in a liquid-solid circulating fluidized bed (0.102 m × 3.5 m). Effects of liquid velocity (U L ), particle size (d P ) and solid circulation rate (G S ) on the solid holdup, overall particle rising velocity, slip velocity between liquid and particles and hydrodynamic energy dissipation rate in the riser were examined. The particle holdup increased with increasing d P or G S but decreased with increasing U L . The overall particle rising velocity increased with increasing U L or G S but decreased with increasing d P . The slip velocity increased with increasing U L or d P but did not change considerably with G S . The energy dissipation rate, which was found to be closely related to the contacting frequency of micro eddies, increased with increasing d P , G S or U L . The solid particle holdup was well correlated with operating variables such as U L , d P and G S .