A bearing lubrication system for a centrifugal pump includes a hydraulic recirculating pump that is structured to provide recirculation of a fluid to and from the motor that drives the impeller of the centrifugal pump, and a system of efferent and afferent conduits that are connected to both the motor and the bearing housing of the centrifugal pump to direct lubricating fluid to or from the bearings, and to or from the motor for recirculation to the hydraulic recirculating pump, thereby utilizing the lubricating fluid used to lubricate the drive motor as a means of lubricating and cooling the bearings that support the rotating shaft of the pump.