Abstract: China is rich in geothermal resources,with speeding up urbanization process and the development of the living standard of the people,the need for central heating and living hot water is growing rapidly and provides advantageous opportunity for geothermal heating project investment of enterprises.Based on the method of Net Present Value,this paper analysis the capital movement of geothermal heating project,proposes the economical evaluation model and makes an empirical analysis which serve as a reference for optimizing the investment and evading risks.