Industrial recirculating aquaculture systems (RAS) constitute an energy-saving and environmentally friendly approach to modern aquaculture production. The hydrodynamic characteristics within these systems, coupled with the ecological environment of the fish, are essential for the efficient operation of the system and for promoting optimal fish growth and welfare. These systems provide several advantages, such as high intensification, efficient water resource utilization, enhanced environmental control, and minimal environmental pollution. Consequently, it has emerged as prominent avenue for advancing aquaculture development in China. This paper begins with an examination of the fundamental concepts and primary tank structures underpinning industrial RAS. It then proceeds to elucidate the hydrodynamic characteristics within RAS and their interrelationship with fish growth and welfare. Furthermore, it offers a thorough review of tank hydrodynamic characteristics and fish interactions from various perspectives, including operational parameters, hydrodynamic drive equipment, fish behavior, and the aquaculture environment. Finally, the limitations of current studies are assessed, and potential future research directions are proposed.