The allocation of irrigation water right to farmers is the key and difficult issues of asset management of water resources, and it involves the rights and interests of hundreds of millions of farmers, however, the relevant work is still at the early stage of exploration. Based on the numerous investigations, the important issues including the necessity and feasibility of the allocation of irrigation water right to farmers and the reliability of management capabilities are discussed. The research results show that from the national development strategy, policy orientation, technical process and water supply management, the irrigation water right should be confirmed to farmers as soon as possible. It is technically feasible, and the service management can be basically guaranteed. It is suggested that the allocation of irrigation water right to farmers should be taken as an important part of the reform of water conservancy in the new era. The work can be organically combined with the comprehensive reform of agricultural water price and the regulation of water withdraw permit, and needs to be actively and orderly promoted.