The gas volume fraction (GVF) often changes from time to time in a multiphase pump, causing the power capability of the pump to be increasingly affected. In the purpose of revealing the pressure load characteristics of the multiphase pump impeller blade with the gas-liquid two-phase case, firstly, a numerical simulation which uses the SST k-ω turbulence model is verified with an experiment. Then, the computational fluid dynamics (CFD) software is employed to investigate the variation characteristics of static pressure and pressure load of the multiphase pump impeller blade under the diverse inlet gas volume fractions (IGVFs) and flow rates. The results show that the effect of IGVF on the head and hydraulic efficiency at a small flow rate is obviously less than that at design and large flow rates. The static pressure on the blade pressure side (PS) is scarcely affected by the IGVF. However, the IGVF has an evident effect on the static pressure on the impeller blade suction side (SS). Moreover, the pump power capability is descended by degrees as the IGVF increases, and it is also descended with the increase of the flow rate at the impeller inlet. Simultaneously, under the same IGVF, with the increase of the flow rate, the peak value of the pressure load begins to gradually move toward the outlet and its value from hub to shroud is increased. The research results have important theoretical significance for improving the power capability of the multiphase pump impeller.