Abstract: Soil erosion management strategy and its ecological economy evaluation in small watershed are hot issues of water and soil conservation disciplines. Researches taking the whole execution scope of the project as an object were few. Regarding comprehensive governance region of small watershed in county level administrative area as appraisal unit, this paper investigates the principal components of management approaches towards soil and water conservation in the fifth project in upper Yangtze River in Sichuan Province and relationship between the principal components and ranking of ecological economy development. In this paper, there are 46 socio-economical and ecological indices selected to represent the impacts of the project. By using principal component analysis and multiple regression analysis, there are 13 principal components found and there is a multiple linear regression model between ranking of ecological economy development and the principal components. The result shows that the different approaches, extension and intension of approaches are significant contributions to ecological economy development.