The butterfly valve is widely used in the industrial field as an on-off or a flow control valve. When the butterfly valve is used as a flow control valve. cavitation sometimes occurs in the range of high flow rate because of the small valve opening. Therefore. the pressure loss and the cavitation characteristics are investigated by use of a commercial CFD code. The results show that the possibility of cavitation occurrence in the cryogenic butterfly valve is very high in the case of valve opening angle below 10 degree and incident velocity over 6m/s. By increasing the inlet velocity at 10 degree of valve opening angle. the value of loss coefficient increased. However. by increasing the inlet velocity at 50 degree of valve opening angle. the value of loss coefficient decreased.