A multiphase flow numerical model based on Eulerian is built to simulate the characteristics of subcooled boiling. The thermodynamic performance in a single rod channel with/without spacer grid are obtained by numerical simulation, and the influence of spacer grid on flow and heat transfer characteristics of subcooled boiling is studied. The model is verified by comparing with the experimental results. After passing through the spacer grid, the high-temperature zone departures from the surface of fuel rod moves towards the cold wall. This impact extends to a certain downstream distance, and then it gradually declines. The influence of different components in spacer grid on the pressure drop is detailed. The pressure drop with spacer grid is 5% higher than that without spacer grid, within the allowable design limitation. The maximum value of section average secondary flow can reach 13.5% of the inlet velocity, indicating that the mixing vanes have stronger ability to produce transverse flow. The influence length of spacer grid on heat flux partitioning is about 27Dh. The effect of spacer grid on the wall heat flux partitioning mainly lies in the decrease of the evaporation heat flux, benefited to reduce the risk of nuclear reactor approaching DNB.