Abstract: In view of the lack of reasonable investment allocation methods for distribution networks, this paper proposes an investment allocation model for multi-region and multi-type projects of medium-voltage distribution networks. Firstly, from the perspective of investment demand, regional power demand, problem status and planning targets, investment benefits, project management level, risk-sharing ability and other factors, the indicators and grading methods are investigated and determined for investment allocation of the medium-voltage distribution networks, and the panel regression analysis is introduced to establish the functional relationship between the medium-voltage distribution network investment of each prefecture-level power supply company and the integrated indicator grading. Secondly, based on the multi-objective optimization decision-making techniques, and with the objective of investment balance and overall benefits and the best unit investment benefits, an investment allocation model is proposed for various large-scale projects and various function projects to increase power supply, improve power supply reliability and reduce line losses. The case study shows that the proposed model can provide a support for the investment allocation for various regions and various projects of the medium-voltage distribution networks of prefecture-level power supply companies.