This paper presents an evaluating method to optimize the sustainable development of high-speed railway (HSR). HSR is a quickly expanding business in China and without exception it has both advantages and disadvantages. There are many factors, such as planning, design, construction, operation, consumer utilities, public participation, environmental protection, economic analysis, influencing the sustainable development of HSR. Aiming at the main factors influencing it, a series of indices are picked up and the evaluating method is established which is based on the grey relational analysis (GRA). By using this index, the closest to the best sustainable development state is selected in similarity HSRs. The result shows that the evaluation method based on GRA is simple and scientific and has a potential prospect. The major contribution of this research lies in developing a formal evaluation framework for the sustainable development of HSR and providing useful managerial insights.