The pollution and encroachment of rivers and lakes are essentially the tragedy of public commons, including the decline in quality and the reduction of quantity. Based on the theory of commons, this paper reflects on the River and Lake Chief System, starting from grasping the attributes of commons of river and lake resources and ensuring the public’s right to use commons so that right of use commons can truly become a tangible right that citizens can claim, realize, and protect. Furthermore, it corrects and guides the direction of public administration supply and social public services in river and lake governance. There is a deviation in the government’s regulation in the implementation of the long-term system of rivers and lakes, the role of market players is insufficient, and the effect of public participation is not good. The government responsibility for river and lake governance should be strengthened, and the river and lake governance goals should be reasonably set. We should promote the improvement of the water market mechanism and strive to maximize the utility of river and lake resources; On the basis of co-construction, co-governance and sharing of rivers and lakes, we should promote the expansion of the scope and methods of public participation in river and lake governance and the improvement of effectiveness.