This study constructed a system dynamics (SD) evolutionary game model, from which we analyzed the conditions that need to be met by multi-agents to achieve cooperation in agricultural water conservancy (AWC) Public-Private Partnership (PPP) projects. Simultaneously, this study used numerical simulation to depict the impact of initial participation willingness, reward, punishment, income, and other parameters of local governments, project enterprises, and farmers on the evolution strategy. The results firstly showed that the basic conditions for tripartite cooperation are to strengthen the rewa...