The sustainable development evaluation of urban rail transit investment project is an important component of its post-evaluation. It is a complicated problem with multi-aspects, multi-levels, and multi-objectives involving the society, economy and environment and so on. Firstly it analyses the necessity of sustainable development evaluation of urban rail transit investment project and describes its concept, then discusses and expounds the multilevel evaluation index, and establishes the evaluation model of sustainable development for urban rail transit based on rough set and analytic hierarchy process. Finally, the result indicates that this evaluation method based on rough set is a simple and feasible method for the sustainable development evaluation on urban rail transit investment project.