Abstract: Agriculture is the lifeblood of the national economy and closely related to development of Chinese economy.Development of modern agriculture is inseparable from farmland water conservancy project.Strengthening construction of farmland water conservancy projects has practical significance for agricultural development.However，relying solely on government′s fiscal expenditure to build farmland water conservancy projects can not meet needs of agricultural development at this stage.In face of funding gap，it is urgent to enter social funds.PPP model is applied to farmland water conservancy projects，and investors are involved in project construction and operation，effectively alleviating.Government has insufficient funds，and at the same time，it has improved quality of farmland water conservancy projects and promoted construction of a new socialist countryside.