Abstract: The reservoir scheduling chart has already become the guidance for reservoir operating and scheduling thanks to its advantages of being simple, direct and viewable. However, it is hard for the scheduling to achieve optimal results and make full use of reservoirs when operation is performed following the chart. In this paper, aiming at this problem, the model integrating cascade reservoirs with optimized power dispatch is established and solved by adopting dynamic programming successive approximation(DPSA) and dynamic programming (DP) nesting algorithms. Through comparison between the results of scheduling chart simulation and optimized operation, the rationality of the model is verified, and the power dispatch laws in the flood season and the non-flood season are developed by using probability statistics method. The application in the cascade reservoirs of a watershed shows that the optimized operation will achieve better generation benefits, and the power dispatch laws can provide guidance for annual scheduling programming and reservoir operating.