Based on the analysis of multiobjective utility function of multiple main bodies of superhuge type projects, this paper builds sustainable balanced value index model of superhuge type projects, points out the calculating principle and method for classified value index of economy, society and environmental ecology and combinational balanced value index, and makes calculation case analysis based on “Three Gorges Project”. Research shows that the size of sustainable balanced value index of superhuge type projects reflects the internal value magnitude of the projects and changes with the change of main body intention and timespace environment, based on this, the feasibility, advantage and disadvantage of the projects can be determined. 