Optimal allocation problem of water resources has some features that principal and subordinate hierarchical, multi-objective, multi-stage, risk decision-making, etc. Aimed to these characteristics, this paper constructs multiple objective risk decision model under principal and subordinate hierarchical risk decision-making, and by integrating a variety of optimization algorithms for solving idea ( such as fuzzy stochastic simulating technique, multi-objective satisfactory degree computation, principal and subordinate hierarchical game, and evolutionary game solving technology based on particle swarm algorithm), established an algorithm system of possessing logical relations. The result is convincible after a case study.