A modified one-dimensional model is developed for prediction of multiphase pump performance. Taken into account in the model are the gas compressibility, the slip speed gap between two phases and the flow cross-sectional depth gradient in the flow line. By using this model, we can select appropriate geometrical parameters of the impellers and guide vanes, and thus higher-pressure boost is obtained but phase separation does not occur. Accordingly, the design method can be optimized. The drag coefficients are analyzed for different flows. Results predicted by the modified model are compared with a series of experimental data and found in good agreement. This model provides a convenient and economical tool for engineering design over a traditional one.