Cavitation and multiphase flow is one of paramount topics of fluid mechanics with many applications in engineering covering a broad range of topics, e.g., hydraulic machinery, biomedical engineering, chemical and process industry. In order to improve the performances of engineering facilities (e.g. hydraulic turbines) and to accelerate the development of techniques for medical treatment of serious diseases (e.g. tumours), it is essential to improve our understanding of multiphase and cavitation flows. For example, the present development towards the erosion control, and higher efficiency and stability of the hydrodynamic systems (e.g. space engine, propeller, hydraulic machinery system) often requires that the systems run in cavitating conditions, and that the risk of cavitation erosion needs to be controlled. The purpose of the ISCM 2014 is to discuss the state-of-the-art cavitation and multiphase flow research and their up-to-date applications, and to foster discussion and exchange of knowledge, and to provide an opportunity for the researchers, engineers and graduate students to report their latest outputs in these fields. Furthermore, the participants are also encouraged to present their work in progress with short lead time and discuss the encountered problems.