The propagation law of underwater drill hole blasting vibration for waterway regulation is affected by elevation effect and water fluctuation effect at the same time.According to a waterway regulation project 13 groups of underwater drilling and blasting vibration test results,this study analyzes the propagation law of underwater drilling and blasting vibration velocity and vibration frequency,and explores the underwater drilling and blasting vibration prediction formula that can reflect the effect of elevation and water fluctuation at the same time.The results show that：1)The highest accuracy of blasting vibration velocity prediction is carried out by using the maximum value of the three-way component.2)The main vibration frequency of the vertical Z-component attenuates with increasing distance,which should be paid attention to in the practice of blasting safety monitoring.3)Compared with Sadovsky formula,the modified formula considering only elevation effect and the modified formula considering only water fluctuation effect,the modified formula considering both elevation effect and water fluctuation effect has the highest prediction accuracy,and the regression equation and regression coefficient are significant,which can more accurately reflect the vibration propagation law of underwater drilling and blasting.The research conclusions have reference significance for the safety monitoring of underwater drilling and blasting vibration in waterway regulation.