The invention relates to a centrifugal pump impeller based on combined constraint of entropy generation and blade load and a design method thereof. The invention aims to provide the method for increasing the design efficiency and the centrifugal pump impeller for reducing the energy loss of the centrifugal pump. According to the technical scheme, the design method for the centrifugal pump impeller based on the combined constraint of entropy generation and blade load is characterized by comprising the following steps: 1) confirming the runner blade load distribution; 2) drawing a geometric model of the blade; 3) verifying if meeting the physical requirement; 4) returning to the step 1) for redrawing the blade if the blade model does not meet the physical requirement; 5) calculating the energy loss distribution of the blade; 6) forming at least one circular balance hole; 7) performing CFD simulation verification. The centrifugal pump impeller comprises fix blades; balance holes are formed in each blade; the balance holes are located in the axial middle section positions of the blades; the distances from the centers of the balance holes to the blade inlets are 70%-80% of the length of the blades.