This paper establishes two relative indicators,i.e.ratio of dredging volume to shipment volume and economic benefit of dredging per cubic meter,and evaluates the dredging benefits of the Yangtze estuary 12.5 m deepwater navigational channel (DNC)combining with comprehensive utilization of dredging materials.The result shows that the ratio of dredging volume to shipment volume of DNC tended to decline during 2011—2015,and there is a decline of nearly 30% from 1 083 m3/104t in the first year of operation to 765 m3/104t in 2015. In the past 5 years,the economic benefit of the DNC dredging per cubic meter increased significantly,and attained to 142 RMB in 2015,which is much higher than that of the current domestic dredging cost.Meanwhile,the quantity of waterway dredging material used for the tideland reclamation is considerable,which is helpful to control the dredging and reclamation costs,and achieves a win-win situation with an improvement of the utilization rate of dredging material in the Yangtze estuary and increasing land resource reserves in Shanghai.In the current circumstances,the DNC has stepped into a steady operation stage and achieved desired social and economic benefits.