Harvesting wind energy with wind turbine utilization is very important for the renewable sources industry. The maximization of a wind turbine efficiency is closely linked to the air flow characteristics around the wind turbine blades. As a result, the optimization of the flow development around the blades in respect to aerodynamic lift increase and aerodynamic drag reduction is the key factor for achieving this goal. In the current work, the characteristic airfoil of the blade of a Small Horizontal Wind Turbine (SHWT) is examined regarding its aerodynamic performance with the use of Computational Fluid Dynamics (CFD). Due to the high air flow volatility the modelling of the flow filed is very challenging while the accurate description and modelling of the effect of turbulence on the aerodynamic performance is critical for the SHWT overall design and efficient operation. For this purpose, more advanced turbulence models such as low-Reynolds number cubic eddy viscosity models are adopted in a free commercial CFD software and the results of the computations are compared with available experimental data of the lift and drag aerodynamic coefficients for various angles of attack of a selected airfoil profile of the SHWT blade. The study provides valuable information for a more accurate flow development prediction around the wind turbine blade and it shows that the adoption of more advanced turbulence models has the potential of providing SHWT designs with increased aerodynamic efficiency.