The implications and research focuses of ecological water conservancy are stated. It is considered that eco-hydrology, ecological hydraulics, and assessment of the eco-environmental effect of water conservancy projects are the theoretical basis for the development of ecological water conservancy, that the idea of ecological water conservancy should be first reflected in the planning and design of water conservancy projects, with the health and sustainability of aquatic ecosystems taken into account, and that the negative effects of existing projects can be alleviated through the recovery and re-construction of habitats, aquatic ecology restoration, ecology regulation, water connectivity improvement, and other measures. This paper also analyzes ecological restoration measures for rivers and watershed habitats, summarizes methods of estimating ecological water demand, defines water connectivity, and identifies key research problems relating to ecological water conservancy in China, involving the fundamental research on the relationship between hydrological regime and biological responses and analysis of the scientificity and uniformity of ecological impact assessment of water conservancy projects.