Overseas oil and gas projects have the characteristics of high investment, high risk and high uncertainty. Evaluation on the project schemes is an effective means to ensure the benefits of the project. Considering the complex characteristics of multi-objective and multi-attribute of overseas oil and gas projects, a three-level evaluation index system of economy, cost and risk based on the actual project data was established. Based on the entropy weighting method, the objective weight of different evaluation indexes was determined, and then TOPSIS method was used to rank and compare the investment schemes of overseas oil and gas projects. The practical application shows that, compared with the cost and risk indexes, the current economic index is still the main reason affecting the selection of overseas oil and gas investment scheme. However, considering the complex characteristics of oil and gas decision-making, refining the content of the evaluation index system can make the final decision more accurate.