The Yellow River Basin is an important economic zone, grain producing area and energy base in China, and plays an important role in the sustainable and healthy development of China's social economy and ecological security. With the development of the social economy and the change in climate environment, the structure of water consumption in the Yellow River Basin changes, with the amount of water used for agriculture and industry decreasing and the amount of water used for domestic and ecological increasing, and the amount of water withdrawal in the upper reaches decreases and the amount of water withdrawal in the middle and lower reaches increases. The current situation of surface water and groundwater withdrawal and consumption in the Yellow River basin from 2000 to 2021 and the structure of water consumption in the basin from 2004 to 2021 were analyzed. The inadequate adjustment of water resource prices, inappropriate allocation, insufficient driving force for industrial transformation in the Yellow River Basin, and low utilization rate of water resources have been identified. It is suggested to improve the water resource pricing system in the Yellow River Basin, promote ecological compensation in the basin, establish a water resource supervision mechanism. construct a new pattern of harmonious coexistence between human and nature in the ecosystem. Exploring and optimizing the water resources allocation in the Yellow River Basin helps promote ecological protection and high-quality development in the basin, which is of great significance for the management and scheduling of water resources in large river basins, and can provide reference for the optimal allocation of water resources in other river basins around the world. [ABSTRACT FROM AUTHOR]