Abstract: Based on the review of previous studies,a hydropower development benefit sharing model is constructed to quantify benefit sharing amount scientifically and rationally,and a case study is conducted. The results show that based on the stakeholder theory,the benefit sharing model can be established by net present value method. In this model main stakeholders such as immigrants taking the product of cumulative discount value of hydropower projects and its investment proportion as benefit sharing amount,which is affected by deterministic and uncertain factors. The latter can be predicted by Monte Carlo simulation method,and then the amount of benefit sharing is calculated.The case of Xiluodu Hydropower Station proves the feasibility and rationality of the model. Based on the results of the model,through the establishment of immigrants shared development fund and taking into account the interests of other interested parties,we can achieve a new mutually beneficial and win-win pattern of stable income of power stations,prosperity and stability of reservoir area,and wealthy of immigrants.