Abstract: The construction of Energy Internet makes the power network more open, and the risk of network trust is increasing.There is an urgent demand for a blockchain transaction scheme with privacy protection and supervision functions to ensure the security and controllability of Energy Internet transactions. In order to solve the problem that the traditional blockchain application modes are difficult to simultaneously take into account the two aspects of transaction data hiding and supervision, a privacy protection model of blockchain transaction with supervision function is proposed. It uses the probabilistic public-key encryption algorithm to realize the hiding of the true identity of the blockchain transaction users, and uses the commitment scheme and zeroknowledge proof technology to realize the privacy protection of the transaction amounts. With the use of identity-based encryption,the supervision of blockchain transactions is realized by regulators, which greatly reduces the pressure on storage, computing and key management. System application analysis shows that the proposed scheme is simple and practical, and can meet the requirements of business applications.