Water Resources Regulation and Management System is a very important part for the water resources management of the Dongjiang River Basin. During the process of the system construction, through the construction of the inflow forecast model, water demand prediction model, channel evolution model and optimization allocation model of water resources, the accuracy of water dispatching scheme is improved. This paper mainly introduces the system construction goal, system composition, model function and the principle, and the relationship between them. The construction of model will help to solve the three large reservoirs, rivers and interval scheduling, and ensure each city to optimize allocation of water resources between different industries on the situation of the shortage of water and its extremely uneven seasonal distribution. Furthermore it is very important to the economic development of the Pearl River Delta, prosperity and stability of Hongkong.