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Hebei Province is one of the most serious short of water resources provinces in China. The per capita and the every hectare of farmland of the water resources are one thirtieth and one twelfth of average value in the world respectively, with 307 m3 and 3120 m3. Along with the social economy sustainable development, the water environments have continued to deteriorate, water scarcity has become a major factor restricting sustainable economic and social development in Hebei Province. This paper uses the ecological economic theory and the economic method to analyze the current water resources management situation and the existing problems, suggesting some effective measures to water resources management in Hebei Province: to further strengthen water-saving society construction; to implement the most strictest water resources management system; to make use of market mechanism to regulate the water prices; to strengthen water resources policies and regulation construction; to utilize water resource overseas, rain and flood resources and renewable water resources by the maximum extent.