A flow pattern-independent void fraction correlation for gas-liquid two-phase flow in vertical large-diameter annuli is established. Two equations are proposed for the parameters of a drift flux model-based correlation: the distribution parameter and the drift flux velocity. These equations are expressed as a function of two-phase flow variables including void fraction, fluid properties, pipe geometry, and phase flow rates. Experiments were performed to study the void fraction of vertical air-water two-phase flow in large-diameter annuli. The obtained experimental data along with the literature data of Caetano are used to verify the performance of the proposed void fraction correlation. The accuracy of this correlation is compared with nineteen frequently used correlations in literature. The proposed correlation was found to predict the void fraction consistently with a better accuracy.