According to its actual structure, the steam generator is divided into the hot leg, the cold leg, the steam-water separator, and the steam chamber, where the hot leg and the cold leg are further divided into a descending channel and an ascending channel. Based on the mass, energy, and momentum conservation laws, the distribution parameter models for the hot leg, the cold leg, the steam-water separator, and the steam chamber are established. Combining the physical parameter database of the working medium and the data collection system (DCS) real-time measurement data, the model is solved in real time and the estimated mass flow rate of recirculation water is obtained. The verification results using the operating data of a CPR1000 nuclear power unit show that the calculated temperature, the pressure, and the mass flow rate of the outlet saturated steam of the steam generator agree well with the measured values, which indirectly verifies the correctness of the estimation approach of recirculation water proposed in this paper.