Centrifugal pumps are important equipment in industrial production, and their safe and reliable operation is of great significance to water supply and industrial safety. During the use of centrifugal pumps, faults such as bearing damage, blade wear, shaft imbalance, shaft misalignment and water hammer often occur. Among them, although water hammer faults occur at a low frequency, they are difficult to monitor and pose significant risks to valve and pipeline interfaces. This article analyzes the causes, mechanisms and phenomena of water hammer faults in centrifugal pumps, designs a monitoring method to effectively monitor the vibration signal of the centrifugal pumps, extracts vibration characteristics to determine and record water hammer events, designs monitoring and diagnostic models for the edge layer and server side, and establishes an experimental verification testing system. The test results show that, under the conditions of simulating water hammer faults, after high-pass filtering of the collected vibration data, the kurtosis index, pulse index and margin index all exceed twice the threshold, and both sensors emit water hammer alarms. The designed data acquisition method can capture water hammer signals in a timely manner, and the analysis model can automatically identify water hammer faults based on existing fault knowledge and rules. This fully demonstrates the scientific and effective nature of the proposed centrifugal pump fault monitoring method and system, which is of great significance for ensuring the safe operation and improving the design of centrifugal pumps.