This paper analyzed the concept of water environmental capacity and the relation between water environmental capacity and control of reservoir eutrophication. A method, which is based on evaluating the water quality status and variation characteristics of the reservoir, to calculate the water environmental capacity of eutrophicated reservoir was put forward. Taking Shizitan Reservoir as an example, the water environmental capacity for TN, TP and COD of this eutrophicated reservoir in China were calculated by the method. A method, which could be used in the areas of short of data, to determine the retention coefficients of TN and TP was put forward in this case. In addition, the pollution gross control of the reservoir was analyzed according to the water environmental capacity and the pollutants discharged into the reservoir. The results show that the methods which were put forward in this study could be used to calculate the water environmental capacity of eutrophicated reservoirs, and this study could provide scientific support to the water environmental management.