Miyun Reservoir is a huge engineering with various functions of flood control,irrigation,water supply,electricity generation,tourism,etc.Miyun Reservoir plays key roles in sustaining the biosphere including economy and society of Beijing,it is very important to valuate the main capitals and services of Miyun Reservoir for decision-making.A donor system of value based on solar emergy and ecological economics are suggested as the means to valuate the main capitals and services of Miyun Reservoir.The results showed that the values of main capitals are RMB 472×10⁸yuan,the total values of main services from 1960 to 2004 are 236×10⁸yuan.Recently,the value of services of tourism,water supply and fishery products were 2.56×10⁸yuan/yr.In order to sustain the function of Miyun Reservoir and provide a basis for the sustainable development of Beijing,this paper suggests compensation funding should be 12×10⁸yuan/yr for the operation,conservation and development of Miyun Reservoir and its watershed area.