Abstract: This paper took 120 immigrants of 8 resettle village in the south sea reservoir in Henan province as a case, by interviews and questionnaire survey, constructed livelihood capital index system which includes human capital, natural capital, financial capital, social capital and material capital, and took Henan farmers per capita disposable income level to the same period as the boundary, divided all the samples into into high-income and low-income groups, then measured the livelihood capital path coefficients among different income groups, completed the empirical research of livelihood capital mechanism by PLS-SEM. According to the results of the study, This paper constructed three path to improve the survival quality of of the reservoir migrants. The study found that the positive effect of the human capital to financial capital and natural capital was significant, and social capital had negative effect to financial capital, and there were differences in mechanism of financial capital and social capital to material capital between high and low income groups. Research suggests that for low-income groups, we could improve the quality of survival by strengthening basic education investment and vocational skills training, providing free medical services, strengthening support and social public opinion guide, perfecting home appliances configuration; for high-income groups, we could improve the quality of survival by self-employed training, social medical insurance, the guidance of the government, changing focus on high-end products.