A combination water and air pump and method of use, for simultaneously circulating and aerating water. The pump including a housing, a first chamber for circulating water, having an inlet for water to be drawn into the first chamber and an outlet for water to exit the first chamber, a second chamber for aerating water, having an inlet for water to be drawn into the second chamber, an apparatus to draw air into the second chamber, and an outlet for aerated water to exit the second chamber. A rotatable shaft connected to a first rotatable impeller in the first chamber and a second rotatable impeller in the second chamber. In use, rotation of the shaft simultaneously rotates the impellers to circulate water within said first and second chambers.