Xanthan gum (XG) solution has been proven to be an effective working fluid in the liquid ring vacuum (LRV) pump to achieve significant energy savings. As an important influencing factor of the LRV pump performance, the effect of temperature on the drag reduction performance, rheological properties, and microstructure of XG solution in the LRV pump were experimentally investigated in this paper. The results indicate that with the increase of temperature, the drag reduction rate of the XG solution in the LRV pump initially rise and subsequently decline, and XG solutions with different concentrations show different optimal drag reduction temperatures. The microscopic parallel double-chain structure of XG has the same change pattern as the drag reduction performance, while the steady-state and dynamic shear characteristics of the XG solution manifest a downtrend. For instance, as the temperature of 4000 ppm XG solution increases from 10°C to 60°C, the drag reduction rate decreases by 20%; the parallel double-chain structure decreases from 91.3% to 89.9%; the yield stress and relaxation time decrease from 4.63993 Pa and 4477.56 s to 3.37808 Pa and 143.27 s, respectively; the drag reduction rate reaches the maximum value when the temperature is 40 °C.