Abstract: As the speeding up progress of the shale gas resources exploration and development of our country, the research on the indicator system and evaluation model of risk and value assessment is crucial fitting the unique traits of shale gas exploration block of our country, after taking the evaluation experiences on the value of shale gas exploration block of the United States for references, aiming at the characteristics of the current shale gas exploration block of our country and combining with China’s current investment environment and related fiscal rules.The evaluation model of risk and value of shale gas exploration block, which bases on the general discount cash-flow means, is came up with.The establishment of the indicator system on risk and value assessment of shale gas exploration block of our country, by using ENPV calculated via the model as major evaluation indicator and EMV, MNCF costs volatility and discount rate as the assistant evaluation indicators, realizes the fully assessment on the main risks during the life cycle of the shale gas exploration block and estimates and analyzes the value of shale gas exploration block objectively.Application effect is great on instance.