A valve seat structure with some bionic drainage of the regulating valve was designed which is inspired by the cuttlefish. The development and collapse of cavitation flow in the valve with this bionic valve seat was investigated with numerical simulation, experimental measurement and theoretical analysis. The influence of bionic drainage valve seat on the internal cavitation development and the distribution of three-dimensional cavitation morphology was also fully discussed. The results show that the bionic drainage hole structure destroyed the distribution law of the cavitation ring in the flow channel, and accelerated the collapse of the cavitation flow which mainly concentrates on the inner surface of the valve seat. Furthermore, the bionic drainage hole structure causes the vortex structure to break into smaller vortices during the cavitation collapse stage under the shear effect, so the cavitation bubble is dissipated in the form of smaller vortex breaking finally. The results provide a significant reference for optimum structural design of the regulating valve in the coal liquefaction project.