In this study, the mathematical model of the underwater discharge system using a centrifugal pump was derived and the rotating speed profiles of the pump which satisfied the discharge performance requirements were obtained through the underwater discharge simulations. The simulation results showed that the dynamic characteristics of a projectile were greatly affected by the rotational speed of the pump, however, hardly by the discharge depth. It is anticipated that the simulation model can be used to derive the design parameters and analyze the performance concerning the underwater discharge system using a centrifugal pump.