The PPP project stakeholders is numerous. how to solve the conflict of interest between the parties and to establish a fair and reasonable revenue distribution scheme, is one of the key problems to promote the smooth implementation of PPP projects. In this article, through the analysis of the affecting factors of income distribution, in view of the PPP projects at different stages, the factors will be divided into two aspects of beforehand and afterwards factors. By calculating income distribution coefficient of both public and private, construct the two-stage dynamic income distribution adjustment model. At last, through case analysis, the feasibility and effectiveness of the model was verified.