The propeller is the predominant propulsion device used in ships. It is difficult to determine the cavitation characteristics and determine the cavitation of a full-size propeller in open water by varying the speed and the revolution rate over a range. This paper presents review of erosion resistance materials, cavitation and effects of energy saving on the shape of current after propeller, on Waginigen B Series ship propeller type in open water system. Experiments are very expensive and time consuming, so the present paper deals with a complete computational solution for the flow using Ansys Fluent 14.0 software. When the operating pressure was lowered below the vapor pressure of surrounding liquid it simulates cavitation conditions. In the present work, Ansys Fluent 14.0 software is also used to solve advanced phenomena like cavitation of propeller. The simulation results of cavitation and open water characteristics of propeller are compared with the result of cavitation around marine propellers with energy saving devices.