In order to solve the fluid-structure interaction problem of Newtonian fluid, a fluid-structure interaction approach is proposed based on Non-ordinary State-based Peridynamics (NOSB-PD) and Updated Lagrangian particle Hydrodynamics (ULPH), to simulate the fluid-structure interaction problem in which large geometric deformation and material failure are considered. In the coupled framework, the NOSB-PD theory is used to describe the deformation and fracture of the solid material structure. ULPH is applied to describe the flow of Newtonian fluids due to its advantages in computational accuracy. The framework effectively utilizes the advantages of NOSB-PD theory for solving discontinuous problems and ULPH theory for solving fluid problems and has good computational stability and robustness. To deal with the interface of fluid structure, a fluid-structure coupling algorithm using pressure as the transmission medium is established. The dynamic model of solid structure and the PD-ULPH fluid-structure interaction model involving large deformation are verified by several numerical validations, which are in good agreement with the analytical solution, the available experimental data and other numerical results, that demonstrates the accuracy and effectiveness of the proposed method in solving the fluid-structure interaction problem. Overall, the fluid-structure interaction model based on ULPH and NOSB-PD established in this paper provides a new idea for the numerical solution of fluid-structure interaction and a promising approach for engineering design and experimental prediction.