Hydrodynamic properties of bubbling flow through a three-phase fluidized bed with a moderately large diameter have been characterized with statistical and stochastic analyses of a comprehensive set of experimentally measured pressure fluctuations in the bed. The analyses have yielded the fluctuations’ histogram, mean, maximum, minimum, standard deviation, skewness, kurtosis, and power-spectral-density function. As the gas flow rate increased with other operating conditions fixed, the mean and standard deviation increased, the skewness decreased, the distribution of the power-spectral-density function broadened, and the major frequency increased. In contrast, as the liquid flow rate increased, the mean and standard deviation decreased, the skewness and kurtosis increased, the power-spectral-density function narrowed, and the major frequency decreased. The hydrodynamic properties of a three-phase fluidized bed with a moderately large column in terms of pressure fluctuations are strongly affected by the flow rates of both the fluidizing gas and liquid.