Water body extraction can help eco-environmental policymakers to intuitively grasp surface water resources. Remote sensing technology can accurately and quickly extract surface water information, which is of great significance for monitoring surface water changes. Fengyun satellite images have the advantages of high time resolution and multispectral bands. This provides important image data suitable for high-frequency surface water monitoring. Based on Fengyun 3 medium resolution spectral imager (FY-3/MERSI) data, 7 methods were applied in this study, which include single-band threshold method, water body index method, knowledge decision tree classification method, supervised classification method, unsupervised classification method, spectral matching based on discrete particle swarm optimization (SMDPSO), and improved spectral matching based on discrete particle swarm optimization with linear feature enhancement (SMDPSO+LFE). These methods were used to extract the land surface water of Poyang Lake, check the samples from the Landsat image with similar times to the FY-3 images, and calculate the classification accuracy via the confusion matrix. The results showed that the overall classification accuracy (OA) of the SMDPSO+LFE is 97.64%, and the Kappa coefficient is 0.95. To analyze the stability of the surface water extracted by SMDPSO+LFE in different regions, this paper selected eight test sites with different surface water types, landscapes, and terrains to extract surface water. Based on an analysis of the land surface water results at the eight test sites, every OA in the eight sites was higher than 94.5%, the Kappa coefficient was greater than 0.88. In conclusion, the SMDPSO+LFE is found to be the most suitable method among the 7 methods and effectively distinguish between different surface water bodies and backgrounds with good stability.