The floating water circulation apparatus (10) is equipped with an impeller (18) that is larger than and tightly fitted over the top of the draft tube (22) through which the water from the pond or reservoir is drawn. The water drawn up and directed outwardly over a large diffuser plate (20) that is centrally located within the invention. The outer edge of the diffuser plate (20) is equipped with a laminar flow diffuser lip (21) which is specifically designed to inhibit the passage of water from the diffuser plate (20) to the open water as little as possible. Additionally, a means of providing a floating water circulation apparatus (10) with the ability to operate effectively in weather conditions in which a layer of ice is likely to form over the diffusor plate (20) of the apparatus in the nighttime hours is provided. Finally, the present invention is equipped with an anchoring device that is designed in a manner that allows for its use in a body of water that is equipped with an impermeable liner.
