Estimating the value of water resources not only forms the basis of water rights transactions between upstream and downstream and eco-compensation standards, but also provides scientific data for the reasonable establishment of local water prices and promotes sustainable use and efficient management. Here, we estimate the economic value of the water resources of the upper reaches of the Xin'an River basin. Our purpose is to establish theoretical support for eco—compensation standardization and provide data for the protection of water resources and water price reform.