As an important component of the deep tunnel drainage system for dealing with urban waterlogging, the rotating stepped dropshaft has been proposed due to its small air entrainment. However, the hydraulic characteristics inside the shaft still need to be fully studied. In this study, the flow patterns, water velocity, and pressure in the rotating stepped dropshaft under different flow rates and geometric parameters were studied using a three-dimensional numerical model. The results show that increasing the central angle of the step and reducing the step height can both reduce the terminal velocity. A theoretical formula for predicting the terminal velocity was established and well validated. The connection between the shaft and the outlet pipe poses a severe threat to the structural safety due to alternating positive and negative pressures. Wall-attached swirling flow generates a circular high-pressure zone at the bottom of the dropshaft and the larger the flow rate, the greater the pressure gradient at the center of the bottom. By using the momentum theorem and considering the impact pressure range of the swirling flow, the shaft bottom pressure can be predicted reasonably well.