Abstract Cavitation prevents the conversion of internal dynamic and pressure energy in a water jet propulsion pump and causes erosion of flow passage components. Acoustic emission is a non-destructive test method for instability signals. Based on the incipient mechanism and development process of cavitation, three acoustic emission signal feature parameters (ring counting rate, energy release rate, Hurst index) are proposed to define the cavitation state utilizing the waveform pattern and signal self-similarity. The multi-source and multi-feature cavitation identification model of acoustic emission signals is established through cavitation simulation, multi-monitoring point acoustic emission signal testing, and feature parameter extraction, and a large number of probabilistic trainings are carried out using Bayesian network, resulting in a fast cavitation state identification method based on acoustic emission signals. The research results have important practical engineering application significance for the prediction of cavitation resistance, real-time dynamic monitoring of cavitation phenomenon and prevention of cavitation damage.