In essence, the benefit sharing of hydropower project for reservoir migrants is a cooperative issue, which is devoted to allocating the engineering benefit and the development opportunity fairly. As the right of reservoir migrants, benefit sharing is not only consistent with the institutional logic of fair compensation, but also highlights the development concept of construction and win—win cooperation. However, the current compensation relief and market orientation are weak. The reasons are as follows: the comprehensive benefit of the hydropower project is very difficult to quantify; the relationship between the participants is not equal; the staffs in the executive management organization are in short supply. Therefore, it should improve the cooperative mechanism of benefit sharing, encourage the hydropower enterprises to fulfill their social responsibilities, give priority to the impoverished reservoir impoverished and then realize the promotion of the practical mechanism for the benefit sharing of the reservoir migrants in a steady and orderly way.