Aiming at the water resource dispatching and allocation problem in the receiving area of the Jiangsu Section of the East Route Project of the South-to-North Water Diversion Project, with the goal of minimizing the total water shortage in the receiving area and the total energy consumption of the pumping station, a water resource optimization scheduling model of the Jiangsu Section of the East Route Project of the South-to-North Water Diversion Project was established. The transfer water from the South-to-North Water Transfer Project was jointly allocated with local water resources, and the water resources allocation model for the Jiangsu Section of the East Route Project of the South-to-North Water Diversion Project was constructed with the goal of maximizing economic, social, and environmental benefits. The model simulation was conducted using the basic scheme and water-saving scheme and the results show that under the three conditions of 50%, 75%, and 95% precipitation guaranteed rates, the water shortage rate of the water-saving scheme in the receiving area decreased by 2.91%, 3.61%, and 3.83% compared to the basic scheme, respectively. Under the water-saving scheme in receiving area, each project has basically completed the water supply task in the receiving area, and prioritized the use of the Yunxi Line, which has a lower unit energy consumption of the pumping station, for water transfer. This indicates that the optimized dispatching and allocation model can operate in a more economical and energy-saving way while ensuring water use in the receiving area.