The axial position of an impeller is misaligned in the process of manufacturing and assembling. For a single suction centrifugal pump with balancing holes, the effect of axial displacement of impeller on the performance, leakage loss and axial thrust acting on the impeller is experimentally investigated. The axial displacement decreases the pump efficiency, increases the leakage through the clearance between wearing ring and impeller, and affects the characteristics of axial thrust.