The Huanghe River is the main water source in Northwest China and North China,and it has huge effect on the economic development of these areas.The shadow price method is adopted in the paper,which divides the Huanghe River into four sections on the basis of its actual conditions,develops and solves the linear programming model of the optimizing allocation of valley water resources,than gains the shadow price of water resources in each sector of every section.This shadow price is the theoretical value of water resources.