The balanced two-ring axial piston pump has a different characteristic of flow ripple because of its improved structure. The flow rippleis analyzed when the numbers of the piston inside and outside are even or odd. And its instantaneous flow’s curves are drawn by Matlab, based on the different parameters. The results show that when the numbers of the piston inside and outside are unequal even or unequal odd, the instantaneous flow inside and outside will counteract, and the flow ripple will reduce. When the numbers of the piston inside and outside are equal even or equal odd, the instantaneous flow inside and outside will overlap, and the flow ripple will remain unchanged. When the numbers of the piston inside and outside are equal and the piston inside and outside are arranged in cross, the pump has the minimum flow ripple, the ripple period is half of that of ordinary axial piston pump, and the pump’s structure is more compact.