The advantages of variable speed centrifugal pump include its broad operating range, wide operating efficiency zone, high operational stability, and regulative characteristics of input power. When pump station has characteristics such as large flow rate changes, large pump head changes, the conventional fixed speed centrifugal pump cannot meet requirements of safe and stable operation under characteristic pump conditions. In order to ensure the safe and stable operation of the pump station within the operation range, the variable speed operation strategy of centrifugal pumps is adopted to enhance its wide amplitude adjustment capability and efficient operation. This paper uses an 8MW centrifugal pump with wide head range in China to analyze the factors that influence the operating range of pump unit in detail. The results indicate that the variable speed pump unit’s safe and effective operating range is determined by the cavitation margin, hump margin, speed range, and pump maximum input power. The hydraulic design can improve the hump safety margin and cavitation characteristics of the operating zone, and then expand the operating range of the pump unit. Meanwhile, increasing the static suction head, reducing the hump margin, controlling pump head amplitude, and appropriately increasing the maximum input power limit are the best ways to extend centrifugal pump’s operating range and improve its adjustable capability. The results can provide reference for parameter selection and hydraulic design of large variable centrifugal pump in the future.