Abstract: Taking the typical under-water shield construction cost as reference, considering the construction sequence and the cost quota of the existing 11.0 m and 15.5 m shield machine tunneling, as well as the material consumption in different strata, the estimation construction cost for super-large diameter slurry-balanced shield machine is calculated. On account of the major variables influencing shield depreciation, the mathematical model of double declining balance is adopted to propose the calculation method of accelerated depreciation for super-large diameter slurry-balanced shield machine. The current quota of slurry treatment is revised， in terms of tunneling cost, shield structure depreciation cost and mud treatment cost, the calculation method of construction cost for the 18.0 m level super-large slurry-balanced shield machine is proposed， so as to complement the deficiency of current standard.