Rendering realistic moving water is one of the key techniques that immerse the viewers into interactive graphics world including computer games. Physical simulations based on computational fluid dynamics (CFD) is useful for rendering the realistic behaviour of water. However, real-time fluid rendering has been one of the challenging tasks because of high computational cost of CFD. According to the recent development of programmable graphics hardware, many graphics functions are replaced by hardware processors. In this research we propose real-time particle-based fluid simulation with Smoothed Particle Hydrodynamics (SPH) on Graphics Processing Unit (GPU).