Abstract: The standard and apportionment responsibility are the core issues of cross-basin ecological compensation. Based on the principle of “who benefits, who compensates”, the ecological compensation model is established from the perspective of water quality and water quantity, which provides the compensation standard for Danjiangkou reservoir area. Then, the total amount and the amount of ecological compensation that should be borne by each water-receiving area are calculated and a two-way ecological compensation mechanism between the reservoir area and the water receiving area is established. The results show that: (1) The total ecological compensation required in the reservoir area from 2016-2019 is 2.879 billion yuan, and compared with the raising of special funds, there is a gap of 575 million yuan; (2) According to the calculation results of each water receiving area, Beijing, Tianjin, Hebei and Henan bear the ecological compensation amount of 915 million yuan, 452 million yuan, 729 million yuan and 783 million yuan respectively; (3) The total amount of water compensation is 1.139 billion yuan more than the total amount of water quality compensation, and the water receiving area values water quantity more than water quality, showing a high demand for water quantity.