The preparation of the state-owned natural resources balance sheet is of great importance to the enrichment and improvement of the establishment theory and method system for exploration and compilation of the natural resources balance sheet in China, and it is also an important measure to promote the construction of ecological civilization in the New Era. On the basis of clarifying the differences and connections between the state-owned natural resources balance sheet and the natural resources balance sheet, this paper defines the objective of serving the unified exercise of the responsi-bilities of the state-owned natural resources assets, and proposes the natural resources asset recognition method as well as natural resource protection and utilization liability recognition method, which meet the requirements of territorial space use control and properties rights design. In addition, this paper preliminarily constructs a report system consisting of 'main tables, sub-tables, and basic tables', the three main tables of which are the summary statement of state-owned natural resources assets and liabilities, the current actual total supply statement of state-owned natural resources assets, and the current actual supply flow statement of state-owned natural resources assets. According to the preparation of state-owned natural resources balance sheet, the report table is able to reflect the situation of state-owned natural resources assets and the realization of their various ownership rights such as possession, use, income, and disposition. In the long run, the state-owned natural resources balance sheet is expected to be used for providing basic information for safeguarding national ownership rights, promoting the protection and rational use of natural resources, and supporting the development of the national economy.