Large　hydropower　projects　(LHPs)　can　generate　significant　direct　socio-economic　and　environmental　(SEE)　impacts,　which　may　radiate　and　accumulate　gradually　through　the　supply/consumption　chains　over　different　development　periods.　Therefore,　a　dynamic　hydroengineering　equilibrium　analysis　(DHEA)　model　is　developed　in　this　study　to　comprehensively　quantify　the　cumulative　indirect　SEE　impacts　of　LHPs　during　their　construction　and　long-term　operation　period.　The　proposed　DHEA　model　will　be　applied　initially　to　the　Baihetan　hydropower　project　(BHT),　the　second-largest　LHP　in　the　world,　which　recently　commenced　operation.　The　results　indicate　that　the　construction　of　BHT　generates　approximately　0.81　billion　yuan　in　GDP　annually　for　the　YREB　region　through　supply/consumption　chains.　Starting　in　2023,　the　operation　of　BHT　will　have　a　long-term　positive　indirect　impact　on　the　YREB　region,　with　significant　cumulative　effects　over　time.　It　is　expected　that　by　2033,　the　cumulative　contribution　of　BHT＇s　construction　and　operation　to　the　YREB＇s　GDP　will　exceed　the　initial　government　investment　in　BHT　(220　billion　yuan).　Additionally,　during　the　operation　periods,　BHT　will　significantly　reduce　the　YREB＇s　energy　input/consumption　and　trade/local　embedded　carbon　emissions　through　supply/consumption　chains.　The　developed　DHEA　approach　is　expected　to　highlight　the　multi-dimensional,　multi-phase,　and　multi-sectoral　indirect　impacts　of　LHPs　and　contribute　to　evaluating　the　SEE　effects　of　other　LHPs　worldwide.　©　2024　The　Authors