It is of great significance to predict the drag coefficient CD and the rising velocity of fluid particles (i.e. bubbles or droplets) accurately because they are helpful to estimate the phase holdup distribution, liquid phase velocity distribution, fluid particle residual time and mass transfer rate in the reactor. However, most of the correlations in the literature to estimate CD are piecewise, only valid in the low Reynolds number (Re) range and difficult to be extended to different experimental systems. In the view of these shortcomings, based on the experimental and theoretical results, this work proposed a new mathematical correlation model which can describe CD evolution observed by experiments in a wide Re range, and complied a program to solve the multi-dimensional unconstrained linear optimization problem to determine the model parameters. The new fluid particle CD correlation showed a good prediction ability and reasonably predicted the fluid particle CD value measured by different researchers under different experimental systems (e.g. air?water, air?glycerol, air?glycerol?water, n-butanol?water, n-octanol?water, toluene?water etc.) and different operating conditions (e.g. bubble: 0.1<Re<104, 10?11<Mo<7; droplet: 5<Re<2000, 10?11 <Mo<10?6). In addition, the rising velocities of fluid particles were predicted by combining the new fluid particle CD correlation and single fluid particle motion equation. The predicted terminal velocity and rising velocity of fluid particles also were consistent with the results of different experimental systems. The above predictions presented that the new CD correlation model was universal, reasonable and reliable to some extent.