Abstract: Aimed at addressing the problem of overexploitation of water resources, the current study focuses on the issues concerning economic accounting for water resources and its depletion and environmental degradation.The reasonable threshold value can thus be determined for water resources development and utilization.Based on the UN System of Integrated Environmental and Economic Accounting (SEEA) tool, an evaluation model is developed to estimate the water environment adjusted net domestic product (WEDP) after consideration of the consequences of water resources depletion and degradation.The pros and cons of water resources depletion and degradation are considered in the model development.The maximization of WEDP is set for the objective of water consumption, and is used as the reasonable threshold value for water resources development and utilization.For the Haihe River basin, the current and 2020 threshold values should be 29.2 billion m³ and 28.7 billion m³, respectively.However, the status quo on water resources development and utilization has already exceeded these reasonable threshold values, causing eco-environment damages across the basin.