The allocation of financial resources in higher education has always been a hot topic of concern in academia and society. The measurement and evaluation of the allocation efficiency of higher education financial resources from the perspective of 'Double first-class' construction is the most important initiative to improve the quality of higher education development and promote the construction of a community with a shared future for mankind. The author constructs a resource allocation efficiency evaluation index system, including two input factors: basic expenditure and project expenditure, and four primary indicators: personnel cultivation, scientific research, international repercussions and social contribution, in addition, ten secondary culture results, results Awarded, education of students abroad, achievement transformation, etc., are considered as output factors. The three-stage Global Super Slacks-Based Measure (SBM) model is applied to accurately measure and scientifically evaluate the allocation efficiency of financial resources in China's higher education. Results show that: first, the true efficiency level can be revealed by eliminating the influence of external environmental factors and random noise. Only 2.82% of universities are located on the effective frontier, indicating that there is significant room for improvement in universities' financial resource allocation capacity and fund utilization efficiency. Second, influenced by factors such as external dependence, R&D intensity, industrial structure and fiscal decentralization, the financial resources allocation efficiency is significantly overestimated, many universities rely heavily on external policy environments for financial resource allocation, and the support from the external environment for efficiency improvement in a few universities still needs to be strengthened. The third, promoting the classification evaluation of universities can meet the needs of 'Double first-class' construction and guarantee the development of university characteristics and diversification. The research shows that first-class universities, comprehensive universities, eastern universities have relatively mature management capabilities, and first-class universities, comprehensive universities and central universities are the most suitable for operation scale; while first-class disciplines, liberal arts universities and western universities have the most significant improvement in the efficiency. Additionally, in view of the research questions and empirical analysis results, this paper also discusses the construction of evaluation index system, the impact of environmental factors and efficiency measurement, classification evaluation, and the effectiveness and promotion of the three-stage Global Super-SBM model, presenting the supporting literature, the uniqueness of this study and the areas for further research. Finally, conclusions are summarized, and suggestions are proposed to provide theoretical guidance and methodological references for dynamic adjustments in the allocation of resources in the new round of 'Double first-class' construction and the strategic planning of higher education resource allocation.