Since the concept of dynamic water resource allocation based on hydrological cycle was proposed, a number of water resource allocation models coupled with distributed hydrological models have been developed successively, but they ignored the real-time interaction between the social water cycle and natural water cycle. In this work, a distributed water resources allocation and regulation model based on SWAT (SWAT-WARM) are developed by improving SWAT model and incorporating water resource allocation module. The bidirectional coupling principle of the model is described from the aspects of model structure, coupling method and configuration rules. a multi-dimension index model verification method for streamflow process, characteristic frequency runoff volume, watershed water allocation is established, and the Tang River Catchment is taken as an example to use the SWAT-WARM model. Based on the result, the water resources allocation plans at different spatial and temporal scales and the water balance in the whole basin are given. The results show that the model realizes the dynamic combination of distributed hydrological simulation and water resource allocation simulation, and can describe the real-time mutual-feed process of natural-social water resources composite system, which can provide technical support for the refined management of watershed water resources. Finally, the shortcomings of the model are prospected. © 2022, China Water Power Press. All right reserved.