Abstract: Overseas mining investment decision is very important to mining development. Once does a wrong decision, then it may have severe influences on our mining enterprises. First, a multi-objective evaluation index system was established, and the weights of which was determined correspondingly; second, the variable-weight theory was brought forward, the classification rules were stipulated, and then each evaluation index was classified, a flexible multi-objective decision model for overseas mining investment was established; finally, interpreted the model with a case of Zimbabwe chrome mining project merged by a steel enterprise of our country. The results indicate that the models have better theoretic and application values.