Abstract: Being the important wetland nature reserve, Zhalong National Nature Reserve faces many problems in its development progress. These problems limit the sustainable development of the nature reserve. This paper summarizes the existing problems and the status quo of sustainable development in Zhalong Nature Reserve, introduces stakeholder theory to analyze the achievements of sustainable development and make clear the interest demand of each stakeholder in the reserve. Finally, the authors build up a governance mechanism with the participation of all stakeholders in the reserve, and put forward relevant suggestions.