Since 1970s, management of IC (intellectual capital) has become a critical task for enterprises to survive and develop in the competitive market. And thesis purpose is to design an SD evaluating model of IC investment and to provide a good tool for enterprises to manage its IC. At first, the research selects a proper method to measure the IC of enterprises. And then, the research build a SD model of IC investment system of X enterprises based on detailed system analysis. Simulations run for seven IC investment projects. Considering the efficiency and risk of in vestment, the dissertation gives a compositor to the seven IC investment projects.