Abstract:The current situation and existing problems of investment and financing mechanism for rural water environment governance are analyzed. Based on the investment theories of rural public infrastructure and the environmental protection, considering the characteristics of “dual-target setting” of rural water environment protection investment, the investment and financing mechanism framework of rural water environment protection is established, and the respective investment responsibilities and investment modes of the government, enterprises, village collectives and villagers are defined. Some policy suggestions are put forward for improving the investment and financing mechanism of rural water environmental protection from the following aspects: clarifying the governing power and its expenditure responsibility, improving the social capitals' participation, innovating the construction and operation mechanism of rural water environment projects, improving the relevant preferential policies and incentive mechanisms, and increasing the financial support.