This paper statistically analyzes the corresponding relationship between the water level change of Xinfengjiang Reservoir and the frequency change of earthquakes with M≥3 and small earthquakes in different parts of the reservoir area and reservoir area since 1980. The statistical results of seismic activity in the reservoir area show that there is a certain degree of negative correlation between earthquake magnitude and water level. Since 2012, earthquakes in Yukeng,Xichang and other areas are prone to occur in relatively high water level periods, while earthquakes near the dam are relatively prone to occur in low water level periods. Earthquakes with M≥3.5 in the reservoir area are more likely to occur during the unloading period of water level. There is a certain correlation between the water level in the reservoir area higher than 103 m and the increase in the frequency of small earthquake.