Abstract:Starting from the concept of general contracting EPC of construction project, this paper discussed its development history, introduced its subjective and objective necessity and advantages, and emphatically expounded the connotation of cost determination and control of EPC project. In addition, this paper also introduced in detail the basis of cost determination and the problems that need to be paid attention to, and expounded the key points of cost control from the aspects of equipment and material procurement costs, construction and installation engineering costs, and management costs. In the process of EPC project execution, design is the foundation and should be paid more attention to. Cost control is the key, especially the prior cost control.