Facing the development needs of efficient propulsion systems for new-type ships, the traditional modes have been replaced by the energy conversion mode with a higher energy density by combing the counter-rotating impeller with the waterjet propulsion technology. The steady internal flow field analysis and unsteady impeller interference characteristics are studied for two different propulsion schemes with similar basic parameters and different front and rear impeller energy distribution ratios by using the CFD numerical simulation method. The results show that the propulsion efficiency of the counter-rotating waterjets with two different energy distribution ratios are basically the same, with a wide range of speed and a wide range of high-efficiency. The front impeller plays an adjusting function and reduces the influence of the non-uniformity of the inlet flow field on the rear impeller. The unsteady performance of the counter-rotating waterjet can be improved by increasing the load of the rear rotor and reducing the energy distribution mode of the load of the front impeller, with significant reduction of the impeller exciting force and pressure fluctuation amplitude.