In order to analyze the influence of the change of material market price on the investment of soil and water conservation in the small watershed management,through the selection of material market price increases of 1%,2%,5%,7.5%,10%,20%,50%,75%,100%,the changes of material budget price,unit price of soil and water conservation measures and investment of soil and water conservation were calculated and analyzed.The results showed that the budget price of materials,the unit price of soil and water conservation measures and the investment of soil and water conservation were closely related to the market price of materials,the budget price of materials was the most sensitive,the increase rate was over 0.8 times of the market price of materials.The second was the sensitivity of soil and water conservation investment,the increase rate was about 0.5 times of the market price of materials.The sensitivity of the unit price was related to the proportion of material cost in the unit price.The sensitivity of the large proportion of material cost was high,and the sensitivity of the small proportion of material cost was low.The increase rate was about 0.1～0.8 times of the increase rate of material market price.The results showed that the change of material market price has significant effect on soil and water conservation investment.