This study undertakes a numerical exploration of fluid-structure interaction, specifically focusing on investigating the elastic properties of a flexible rotor. The research utilizes a robust two-way fluid-structure interaction (FSI) method facilitated by ANSYS Workbench software. This approach integrates the fluid dynamics solver with the transient structural solver to study the elastic behavior of the flexible rotor submerged in water and its consequential impact on performance. The rotor under scrutiny possesses a moderate level of flexibility and is represented with three blades featuring a simplified rectangular geometry. The primary objective of this investigation is to assess the influence of varying flow velocities on the bending deformation of the blades. The findings reveal that the blades undergo deformation in the downstream direction, with the magnitude of these deformations amplifying with increasing inlet velocities. Furthermore, the study illustrates how flexibility contributes to a reduction in drag force. It also elucidates the substantial role flexibility plays in either enhancing or diminishing rotor performance, thereby providing valuable insights into the optimization of rotor design.