To analyze，predict and control the influence of underwater blasting vibration on adjacent buildings in Xijiang Longwei waterway regulation project，we installed the blasting vibration detector to detect the peak velocity of particle vibration produced by underwater blasting. Comparing the detection data with those obtained by two different blasting vibration velocity prediction models by Newton iteration regression analysis，we obtain the blasting vibration propagation law of the underwater blasting engineering，and compare the vibration reduction effects of different technical schemes. The results show that in the underwater blasting engineering，the applicability of the traditional blasting vibration prediction mathematical model without considering elevation is low，and the applicability of the new prediction model considering elevation influence factors is high. And the mathematical model obtained by nonlinear regression using Newton iterative method can accurately reflect the blasting vibration propagation law of the project. The application of hole by hole blasting technology can greatly control the harmful effect of blasting vibration and protect the surrounding buildings.