Urban rail transit plays a role of activating and leading regional economic development. It influences the spatial distribution of urban agglomeration and the progress of regional economic integration. It is a kind of virtuously cycled interactive relationship between regional economic development and regional rail transit. This paper analyzes the effect of urban rail transit construction project on regional economy based on the economic benefits arisen from it. The research results show that China’s urban rail transit construction and regional economy can not realize balanced development unless the fact that the relationship between urban rail transit planning and regional economic development can be well coordinated, and meanwhile, the construction scale and service level of different phases of rail transit can be confirmed according to urban economic development level.