Under the circumstance of goal of“carbon neutralization and carbon peak”and the reform of power system, promoting the market- oriented consumption of renewable energy has become a key task in the construction of China’s power market. Considering the operation characteristics of cascade hydropower, the constraintssuchashydrauliccoupling,powergenerationoutput characteristics, water level control and hydropower vibration zone are introduced into the conventional clearing model. It is designed that a day ahead market example including six power generation entities to analyze the market transaction results under different operation scenarios, the rationality and practicability of the clearing model are preliminarily verified.