This paper investigates the networked evolutionary model based on snow-drift game with the strategy of rewards and penalty. Firstly, by using the semi-tensor product of matrices approach, the mathematical model of the networked evolutionary game is built. Secondly, combined with the matrix expression of logic, the mathematical model is expressed as a dynamic logical system and next converted into its evolutionary dynamic algebraic form. Thirdly, the dynamic evolution process is analyzed and the final level of cooperation is discussed. Finally, the effects of the changes in the rewarding and penalty factors on the level of cooperation in the model are studied separately, and the conclusions are verified by examples.
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