In the study, the material and energy flows of Xixi wetland with or without the establishing of Wetland Park were quantitatively analyzed using the theory of ecological economic system. With the aim of providing reference for wetland park protection pattern research, the sustainability and productive efficiency of the system were assessed from the view of environment and economy through forming new emergy indices. The results showed, the annual total emergy input and output was 1.6 times and 1.9 times greater than the previous system after the establishing of Wetland Park. Although the economic income was decreasing, the environmental outputs greatly increased, with the organic matter yield and service yield were 1.5 times and 2.3 times greater, respectively. Besides, the results of emergy indices analysis indicated the establishing of Wetland Park would result in the increased net environmental benefits and improved sustainability. Conclusion can be drawn that Wetland Park is an efficient approach to reasonably protect and utilize wetland resources, meanwhile it can improve sustainability by increasing feedback, improving ecological environment and traveling.