Maximizing economic benefits could be realized by selection and application of nice sugarcane varieties in the whole sugar industry. Efficient screening and evaluation of sugarcane varieties on the perspective of market economy is of great significance for the sustainable development of sugar production. This study was conducted to establish the economic weight models of multiple traits and evaluate relative importance of these traits so that to provide a base for improving breeding evaluation efficiency and application of nice sugarcane varieties in sugarcane industry. The cost accounting for all aspects of the whole sugar industry was estimated, based on the survey data of three milling seasons from eighteen sugar mills and the feedback data from some experiential farmers who had engaged in sugarcane production for many years in Yunnan Province. The models of economic weight for different economic traits of sugarcane were established and their relative importance were analyzed according to their relative values of economic weight respectively. The main results were as follows: (1) the models of economic weight for eleven target traits were established, including three direct target traits (cane yield, sucrose content and fiber content), and eight indirect target traits (stalk diameter, millable stalks per hectare, stalk height, pithiness, trashiness, hairiness, side shoot and protruded bud). (2) The total cost per ton of sugar was 4643.99 yuan assuming production system parameters described above (plant crop yield=63 t/hm 2, sugar content=12.5%, fiber=12.0%, and total production=170.73 t/hm 2, including one plant crop and two ratoon crops) as a baseline. The production cost for sugarcane grower and sugar mill accounted for 68.15% and 31.85% of the total cost respectively. When the purchase price of sugarcane per ton of cane was 440 yuan, the profit of the farmer per ton of cane was 44.38 yuan. However, when the price of sugar per ton in the market exceeded 5000 yuan, the profit of the sugar mill per ton of sugar was more than 356.01 yuan. (3) Currently based on the manual harvest, the absolute economic weight value of 11 target traits of sugarcane were: cane yield (TCH, t/hm 2) 37.95 yuan, sugar content (CCS, %) 328.44 yuan, fiber (Fr, %) 22.28 yuan, stalk diameter (SD, cm) 320 yuan, millable stalk number (SN, stalks/m 2) -80 yuan, stalk height (SH, cm) 0, pithiness (Pi, rating) -760 yuan, trashiness (Ti, rating) -320 yuan, hairiness (Hi, rating) -160 yuan, side shoot (SS, rating) -159.82 yuan, and protruded bud (PB, rating) -63.26 yuan. (4) Combining the genetic gains, the relative economic weight values of these traits were obtained. The relative economic weight value of CCS, TCH, SD, SH, PB, Fi, Ti, SS, SN, Hi, Pi was 400.99, 130.51, 36.93, 0, -5.22, -8.25, -21.15, -24.30, -28.61, -30.72, and -200.04 yuan, respectively. The establishment of the economic weight model for the target traits would provide a reference and basis for the sugarcane breeding and analyzing the production cost and marginal benefit in the whole sugar industry.