Because of significant influence on momentum, mass, and heat transfer processes, the energy dissipation rate (ε) serves as the basis for new mixers or reactors. However, there is no research of ε when a high-gravity (HiGee) device is used as a microbubble generator. In this work, a HiGee microbubble generator (HMG) was first proposed and a mathematical model of ε of HMG was established for the first time. Results showed that the ε increased from 0 to 320 W/kg when the rotational speed increased from 0 to 1400 r/min. The deviations of ε between the experimental results and calculated results using the model were within ±15%. Compared to other microbubble generators, the HMG can easily realize controllable ε by the rotational speed, which shows that HMG is a promising and efficient microbubble generator for the enhancement of gas–liquid mass transfer.