Today, considering the sustainability of the nuclear technology in the energy mix policy of developing and developed countries, the international community starts the development of new advanced reactor designs. In this framework, Oregon State University (OSU) has constructed, a system level test facility to examine natural circulation phenomena of importance to multi-application small light water reactor (MASLWR) design, a small modular pressurized water reactor (PWR), relying on natural circulation during both steady-state and transient operation. The target of this paper is to give a review of the main characteristics of the experimental facility, to analyse the main phenomena characterizing the tests already performed, the potential transients that could be investigated in the facility, and to describe the current IAEA International Collaborative Standard Problem that is being hosted at OSU and the experimental data will be collected at the OSU-MASLWR test facility. A summary of the best estimate thermal hydraulic system code analyses, already performed, to analyze the codes capability in predicting the phenomena typical of the MASLWR prototype, thermal hydraulically characterized in the OSU-MASLWR facility, is presented as well.