Bohai Strait cross- sea channel is a strategic project which connects Shandong Peninsula and Northeast regions, and it is very important for speeding up the economic development of the Bohai-ring and revitalizing the northeast old industrial base. Through a comprehensive analysis of the strategic value of Bohai Strait channel,the engineering solutions and investment and financing methods are planned. According to the analysis, the Bohai Strait project should adopt Lvshun—Penglai tunnel option, and the railway tunnel is the preferred solution, cars are carried by trains to cross the Bohai Strait tunnel;tunnel boring machine (TBM)+ drilling and blasting method is used in the construction of the tunnel,this method is feasible in our existing tunnel built and economic capacity, and the construction risk is acceptable. In accordance with cross-sea project of domestic and international and the characteristics of Bohai Strait cross-sea channel, the build-operate-transfer (BOT) financing model is suitable.