In order to promote the rational allocation of water resources in Shaanxi Province and the Yellow River Basin and ensure regional water security, based on virtual water theory and inter-regional input-output table of China, this paper calculated the water consumption coefficients of three major industries virtual water volume in Shaanxi Province, and the virtual water trade volume between this province and other provinces in China in 2007, 2010, 2012, 2015 and 2017 with the help of input-output model, and explored the main factors affecting the change of virtual water volume in Shaanxi Province by using gray correlation model. Further, the inter-industry allocation characteristics of virtual water in Shaanxi Province were analyzed and the virtual water trade network between Shaanxi Province and other provinces were established. The results show that a) the coefficient of direct water consumption and complete water consumption coefficient of the primary industry in Shaanxi Province are higher than that of the secondary and tertiary industries, but all show a decreasing trend over this time, indicating that the province’s water use efficiency are constantly improving. b) The primary and secondary industries account for the majority of the virtual water supply in Shaanxi Province, and the level of agricultural technology, population size, urbanization rate, food production, industry and construction development level are the main factors affecting the virtual water supply of the primary and secondary industries in the province. c) More than 70% of the virtual water in Shaanxi Province are consumed by itself and transported to other provinces mainly are Guangdong, Shanghai, Tianjin, Hebei, Shandong, Shanxi, Inner Mongolia and Henan provinces. It mainly exports to the primary industry. More than 90% of the virtual water input derives from the secondary and tertiary industries of Jiangsu, Guangdong, Shanghai, Anhui, Zhejiang and Hunan provinces. d) Shaanxi Province has maintained net input state for a long time in the inter-provincial trade; compared with the actual water resources trade net virtual water trade between Shaanxi Province and Sichuan, Liaoning, Jilin and other provinces is unreasonable. Shaanxi Province should promote the spatial and temporal matching of virtual water and physical water by adjusting the industrial structure and optimizing the inter-provincial trade network, which is of great significance for the rational use of water resources at the Yellow River Basin scale and even at the national scale. [ABSTRACT FROM AUTHOR]