Remote sensing of lake water based on water-leaving radiance is to retrieve the concentrations of suspended sediment, phytoplankton and yellow substance which have great impacts on spectrum to assess the water quality. Howerver, because of the complexity of the lake water compositons and the interference between the different components, it is of great difficulty to get accurate results with the reflectance spectrum method developed recently. In the present paper, the authors firstly discussed the reflectance and polarization spectral feature of suspended sediment water body, found out the relations of the reflectance and the degree of polarization of water-leaving radiance and the concentration of suspended sediment at the sensitive bands. The authors also compared the effectiveness of the retrieval approaches based on reflectance and polarization in laboratory water body and Chaohu water body respectively. The results show that in the lake water body where the constituents are very complex, the polarization information has greater capacity of anti-jamming, therefore it will have great potential applictions in lake water quality remote sensing.