In　this　paper,　a　modified　delay　predator-prey　model　with　stage　structure　is　established,　which　involves　the　economic　factor　and　internal　competition　of　all　the　prey　and　predator　populations.　By　the　methods　of　normal　form　and　characteristic　equation,　we　obtain　the　stability　of　the　positive　equilibrium　point　and　the　sufficient　condition　of　the　existence　of　Hopf　bifurcation.　We　analyze　the　influence　of　the　time　delay　on　the　equation　and　show　the　occurrence　of　Hopf　bifurcation　periodic　solution.　The　simulation　gives　a　visual　understanding　for　the　existence　and　direction　of　Hopf　bifurcation　of　the　model.