The invention discloses an industrial fish culture water circulation system, which comprises a culture pond, a horizontal drain pipe, a vertical drain pipe, an internal sleeve, a branch blow-off pipe, a reducer pipe, a blow-off header pipe, a return pipe, a water treatment device, a reservoir, an inlet pipe and a branch inlet pipe. The internal sleeve is arranged in the vertical drain pipe to replace a valve on the branch blow-off pipe in the prior art, different water circulating culture modes can be selected by extracting and inserting the internal sleeve in the vertical drain pipe, and the operation is simple, convenient and quick.