The necessity and feasibility of an ET-based modern water resources management was analyzed to improve assessment of critical water resources scarcity in the region/basin. This analysis was based on the whole water cycle process and its analysis object is evapotranspiration (ET), a main consumption component in the water resources dynamic transformation process. A case study was undertaken by selecting soil water resources in the Yellow River Basin and employing the WEP-L distributed hydrological model with physics mechanisms. This paper discusses the amount and consumption efficiency of soil-water resources according to completely simulated results of water cycle elements throughout the basin. Results indicate that it is important for the ET-based modern water resources management strategy to alleviate water resources scarcity because it may not only avoid unused water wasting but also improve water use efficiency. Therefore, an ET-based modern water resources management scheme is a good complement to the traditional water resources demand management system. The necessity and feasibility of an ET-based modern water resources management was analyzed to improve assessment of critical water resources scarcity in the region / basin. This analysis was based on the whole water cycle process and its analysis object is evapotranspiration (ET), a main consumption component in the water resources dynamic transformation process. A case study was undertaken by selecting soil water resources in the Yellow River Basin and employing the WEP-L distributed hydrological model with physics mechanisms. This paper discusses the amount and consumption efficiency of soil- water resources according to completely simulated results of water cycle elements throughout the basin. Results that that is important for the ET-based modern water resources management strategy to alleviate water resources scarcity because it may not only avoid unused water wasting but also improve water use efficiency. Therefore, an ET-based modern water resources management scheme is ag ood complement to the traditional water resources demand management system.