Abstract In this paper, we develop an appropriate set of hydrodynamic equations for a U(N) invariant superfluid that couple the dynamics of superflow and magnetization. In the special case when both the superfluid and normal velocities are zero, the hydrodynamic equations reduce to a generalized version of Landau-Lifshitz equation for ferromagnetism with U(N) symmetry. When both velocities are non-zero, there appears couplings between the superflow and magnetization dynamics, and the superfluid velocity no longer satisfies the irrotational condition. On the other hand, the magnitude of magnetization is no longer a constant of motion as was the case for the standard Landau-Lifshitz theory. In comparison with the simple superfluid, the first and second sounds are modified by a non-zero magnetization through various thermodynamic functions. For U(2) invariant superfluid, we get both (zero-) sound wave and a spin wave at zero temperature. It is found that the dispersion of spin wave is always quadratic, which is consistent with microscopic analysis. In the Appendix, we
show that the hydrodynamic equation for a U(N) invariant superfluid can be obtained from the general hydrodynamic equation with arbitrary internal symmetries.
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