To enhance the energy performance of a central air-conditioning system, an effective control method for the chilled water system is always essential. However, it is a real challenge to distribute exact cooling energy to multiple terminal units in different floors via a complex chilled water network. To mitigate hydraulic imbalance in a complex chilled water system, many throttle valves and variable-speed pumps are installed, which are usually regulated by PID-based controllers. Due to the severe hydraulic coupling among the valves and pumps, the hydraulic oscillation phenomena often occur while using those feedback-based controllers. Based on a data-calibrated water distribution model which can accurately predict the hydraulic behaviors of a chilled water system, a new Model Predictive Control (MPC) method is proposed in this study. The proposed method is validated by a real-life chilled water system in a 22-floor hotel. By the proposed method, the valves and pumps can be regulated safely without any hydraulic oscillations. Simultaneously, the hydraulic imbalance among different floors is also eliminated, which can save 23.3% electricity consumption of the pumps.