Water resources is an important resource to sustain human survival and development and its pricing ensures the rational and efficient use. This paper researched water pricing problem, took the Yellow River Water of phase II Donglei as an example, applied the fuzzy mathematics method, completely considered influence factors in the process of water price formulation, set up fuzzy comprehensive evaluation model and studied the value evaluation of water resources and water price calculation. Finally, the paper scientifically made a price for water of the second phase Donglei pumping project from the Yellow River and realized high efficient utilization of regional water resources, and economic and social development.