For a blood pump, high shear stress and bearing wear produced by its high rotational speed are the major factors causing mechanical damage to blood cells inside the pump. To eliminate frictional damage to blood cells, a novel magnetic levitation (maglev) nutation blood pump with low speed and small volume flow is developed in this study. The flow-field characteristics and hemolysis performance of the newly designed blood pump are analyzed and the feasibility of its design is demonstrated. We use computational fluid dynamics and the dynamic grid method to solve the unsteady 3D Navier–Stokes equation in conjunction with the standard k−ε model to simulate and analyze the internal flow field of the blood pump. In an in vitro experiment, an in vitro circulation loop system including four monitoring sensors is established and fresh sheep blood is used as the circulating medium. The flow pressure is tested by adjusting the speed and load of the pump. To calculate the normalized index of hemolysis (NIH) of sheep blood, its plasma-free hemoglobin and hematocrit levels are detected simultaneously. The prediction results of velocity, pressure, and shear stress distributions in the 3D flow field of the pump demonstrate that our newly designed pump has an antithrombotic property and will not cause serious blood damage. The in vitro experiment suggests that a continuous output of more than 5 L/min can be obtained at a 100 mmHg pressure load and that the output flow of the pump is stable at different pressures. The NIH of the nutation pump is 0.0039 ± 0.0006 g/100 L. The research results reveal that our newly designed maglev nutation blood pump has good hemolytic performance and a stable hydraulic property that can meet the requirements for animal experiments.