Water-related problems are currently second only to energy issues as threats to human society. North China is a region that is facing severe water scarcity problems. In order to provide appropriate water mitigation policies a regional study is completed. Under this circumstance, Liaoning Province, a typical heavy industrial province in north China is chosen as a case study region. The input–output analysis method is employed in order to evaluate the water footprint both from production and consumption perspectives. The results show that the total water footprint of Liaoning in 2007 was 7.30billionm3, a 84.6% of internal water footprint and a 15.4% external water footprint. The water trade balance of Liaoning was 2.68billionm3, indicating that Liaoning was a net water export region, although water shortages are becoming a more serious concern. The “Agriculture” and “Food and beverage production” sectors are found to have the highest water footprint, water intensity, water exports, and water trade balance. Based upon Liaoning realities policy implications and suggestions are made, including industrial and trade structure adjustment, application of water efficient technology and management measures, and appropriate capacity-building efforts. The methodology and findings may be useful for investigation of water footprints throughout various regions of the world.