A comprehensive analysis of the concept and connotation of new quality productivity of water conservancy was conducted, and the differences and connections between new quality productivity of water conservancy and traditional water conservancy productivity were discussed in detail. The important role and key manifestations new quality productivity of water conservancy were also discussed, and the components, core elements, and structural relationships of new quality productivity of water conservancy were systematically summarized. Policy recommendations have been put forward to cultivate and develop the new quality productivity of water conservancy, focusing on strengthening the application of technological innovation in the field of water resources, optimizing the water resources management system and policy design, implementing the strictest water resources management system, improving water conservancy infrastructure construction, vigorously developing the modern water conservancy industry system, and establishing a multi-party collaborative participation mechanism.