As one of China's five largest freshwater lakes, Chaohu is an important water reserve and has an important strategic position. But the sound water right market has not been formed yet in Chaohu Lake basin, the waste and pollution of water resources has been serious.Rational use of water resources in the basin is very important to the sustainable development of local economy and society.Based on analyzing the relevant theoretical basis of water right transfer and the status of water resources in Chaohu Lake basin, the article proposed the concrete measures of water right transfer undertaken in the basin,which can provide a new way for resolution of the basin's water crisis.