The method and theory of water resources optimum distribution for industrial use are discussed in this paper. The influence of a great number of factors, such as economic benefit, social benefit, environmental benefit, water resources sustainable utilization and its coordination with the development of national economy and society has been researched deeply, and the formulae have been proposed to calculate the synthetic influence coefficients. Finally, the synthetic benefit model has been established. Taking Gaomi City (Shandong Province) as an example, we renew the distribution of water that can be supplied to industry in industrial branches. The result is agreeable to the actual situation.