Abstract: Taking the steam generator (SG) of the ACME facility as the study object, two-fluid model was chosen for the secondary side of the SG and a direct simulation was made on the whole SG of the ACME facility with the CFD software CFX. The stable test conditions were calculated. The primary side and secondary side temperature distribution of SG, the secondary side void fraction distribution and the wall temperature of heat transfer tube were obtained. The secondary side detailed flow and heat transfer characteristics were arrived. The results show that bubbles begin to accumulate from the second baffle and bubble amount increases as the tube is higher. Near the bend area and above, they all become steam. The calculated results are all in accordance with the experimental results.