The invention discloses a device for testing multi-phase flow and heat transfer characteristics of a supercritical water circulating fluidized bed, which consists of an experimental section, a circulating system and a testing system, and comprises a lifting pipe, a cyclone separator, a filter, a feeding bin, a vertical pipe, an L-shaped material return valve, a circulating water tank, a first plunger pump, a second plunger pump, a damping buffer, a flowmeter, a first heat regenerator, a second heat regenerator, a first heater, a second heater, a back pressure valve, a cooling water tank, a cooling water pump, a first cooler, a second cooler, an open cooling tower, a plurality of regulating valves and other parts, and a plurality of K-type thermocouples, pressure difference sensors, capacitance probes and other testing devices. The device for testing multi-phase flow and heat transfer characteristics of the supercritical water circulating fluidized bed lays a foundation for research onthe multi-phase flow and heat transfer characteristics of the supercritical water circulating fluidized bed reactor, establishment of design theory, optimization of operation conditions and popularization of application.