A water cooling apparatus for cooling centrifugal casting equipment that includes an upper mold and a lower mold rotating together includes a rotating shaft in which a first cooling passage is formed and to which a nozzle is provided at an end portion of the rotating shaft, and a collecting portion which surrounds a side surface of the lower mold and is installed apart from the lower mold. The lower mold is connected to the rotating shaft and includes a chamber separated from a mold space formed between the upper and lower molds in order to store cooling water injected to the nozzle. The lower mold includes at least one second cooling passage extended from the chamber toward an outer circumference surface direction, and the collecting portion receives the cooling water discharged through the second cooling passage.