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Traditional reservoir operation mainly focuses on economic benefits, while ignoring the impacts on navigation. Thus, the economic operation of reservoirs considering navigational demands is of great significance for improving benefits. A navigation capacity evaluation method (NCEM), which evaluates the navigation capacity considering the influence of flow velocity and water level variation on navigation, is proposed to more effectively evaluate the navigation capacity. Based on two-dimensional hydrodynamic numerical simulation, the NCEM accurately calculates the navigation capacity according to detailed flow velocity and water level changes. In addition, a short-term multi-objective optimal operation model considering the upstream and downstream navigation and power generation is established. Then, the Strength Pareto Evolutionary Algorithm (SPEA2) is used to solve the model. To verify the rationality of the method and model, they are applied to the case study of the Xiangjiaba reservoir. The results demonstrate that the method and model can not only provide a series of operation schemes for decision makers of reservoirs, but also direct the ship to pass safely through the approach channel, implying a certain practical value and significance as a reference for the short-term optimal operation of reservoirs in the future. [ABSTRACT FROM AUTHOR]