This paper takes centrifugal fan as the research object and establishes five impeller models with different blade outlet angles. By means of computational fluid dynamics (CFD), the external characteristics of the centrifugal fan and the internal characteristics, including the velocity, pressure, and turbulent energy distribution, at the middle span plane of the impeller or fan were obtained and compared. In addition, the pressure fluctuations surrounding the impeller outlet were also analyzed. The results showed that the change of the blade outlet angle of the centrifugal fan had a great influence on the performance; the total pressure and efficiency of the fan were the highest when the outlet angle of the blade was increased to 29.5° under the design flow rate; and the influence of the outlet angle on the fan performance was different in off-design conditions. On the other hand, at different flow rates, the change of the internal flow field with the increase of the outlet angle was different. For the pressure fluctuation of the fan, by increasing the blade outlet angle properly under high flow conditions, the fluctuation amplitude of the fan at the blade frequency and its frequency multiplication could be reduced, which is conducive to decreasing the impeller noise. The research results have good guiding significance regarding the design of the pneumatic performance and noise reduction performance of centrifugal fans.