The power consumption of frequency conversion chilled water pump of an office building regulated by constant pressure difference method with bypass valve is studied experimentally. A model of power consumption of chilled water pump is proposed. The effects of pressure difference set point of bypass valve on instantaneous and annual power consumption of chilled water pump are analyzed. The simulation results are validated experimentally, which shows that there is a maximum water flow rate which increases with the increase of the pressure difference set point of bypass valve at equilibrium state. There are three pressure operation regions of the bypass valve: under pressure region, constant pressure region and over pressure region. The power consumption of frequency conversion chilled water pump is affected by the pressure difference set point of bypass valve significantly, and it would be minimized as the pressure difference set point of bypass valve is equal to the pressure difference between supply water and return water of the farthest user.