A model of bilateral joint regulation of basin-wide water resource supply and demand is put for-ward focusing in the problems of separated water demand and supply, and weak bond of allocation and regulation in conventional water resource allocation, which barely supports the strict basin water resource management. In terms of water demand, an optimal model of crop pattern and irrigation is established based on a function of water and benefits considering constraints of water and land resources. In terms of water supply, a two-stage allocation-regulation-combined and simulation-optimization-based modeling approach is used to develop the multi-water-resource allocation and reservoir operation model. The water demand derived from the former optimal model and the water supply derived from the latter model are coupled and decomposed to establish the integrated model and implement the joint control of water demand and supply. The integrated model is applied in the Nansi Lake Basin and the optimal water allocation scheme, crop patterns and operation rules of upper and lower Lakes are obtained based on the model, which reveals the reasonability of the model. The results under the dry condition and normal condition show that the water production efficiency of irrigation water increased 0.70 yuan/m3 and 0.63 yuan/m3 respectively; the guarantee rate of domestic and industrial water supply remained at 95%, and the rate of ecological and agricultural water supply increased from 53% to 71% and 67% to 75% respectively. © 2021, China Water Power Press. All right reserved.