Based on the full cavitation model which adopts homogeneous flow supposition and considering the compressibility effect on cavitation flow to modify the re-normalization group k-∊ turbulence model by the density function, a computational model is developed to simulate cavitation flow of a centrifugal pump at low flow rate. The Navier-Stokes equation is solved with the SIMPLEC algorithm. The calculated curves of net positive suction head available (NPSHa) HNPSHa agree well with the experimental data. The critical point of cavitation in centrifugal pump can be predicted precisely, and the NPSH critical values derived from simulation are consistent with the experimental data. Thus the veracity and reliability of this computational model are verified. Based on the result of numerical simulation, the distribution of vapor volume fraction in the impeller and pressure at the impeller inlet are analyzed. Cavities first appear on the suction side of the blade head near the front shroud. A large number of cavities block the impeller channels, which leads to the sudden drop of head at the cavitation critical point. With the reduction of NPSHa, the distribution of pressure at the impeller inlet is more uniform.