The construction and management of national water parks is an important part of realizing water ecological civilization and beautiful China. The protection of national water parks requires an assessment of their non-market economic values(use values and non-use values). Based on the single-bound and double-bound dichotomous contingent valuation method techniques, the use values and non-use values of Yimenghu National Water Park are quantitatively evaluated. Four econometric models containing logistic, log-logistic, normal and log-normal are applied through questionnaire data. The results showed that: (1)The Yimenghu National Water Park is of high use values and non-use values. (2)The evaluated results of log-logistic and log-normal econometric models are more reliable in the double-bound dichotomous CVM technique. (3)The respondents are willing to participate in protection in the form of donations to non-profit organizations. The assessment achievements are helpful for the cost-benefit analysis of the protection and sustainable management policies of water parks.