Abstract: In order to calculate the water resource price of Zhangye City, the author carried out a field investigation about the quantity of water resources, water price system and the economic situation of Zhangye City. By establishing the fuzzy evaluation model of water resource value in Zhangye City, the author used rise (drop) half trapezoid function to determine the value of water resources for the evaluation of fuzzy linear subordinate relations, selected the water quality, per capita water resources, population density, per capita gross national product (GNP) as evaluation indexes, and conducted the comprehensive evaluation of water resource value of Zhangye City. The results showed that the water resource price was 1.97 yuan/m³ in Zhangye City, the corresponding tap water price for residents should be 2.347 yuan/m³, which was 2.76 times of the current residents’ water price (0.85 yuan/m³). And according to the current water price, annual expenditure on water was 126.74 yuan per person, accounting for 0.88% of per capita disposable income (14395 yuan), far lower than the control index in the model 0.015. Therefore, relevant government departments should accelerate the reform of water price system and re-enact fee collection standards, so as to realize the optimal allocation of water resources.