According to loess and palaeosol climatic record, field observation, analysis data and 14C dating, we discuss the climatic changes and the water level fluctuations of Qinghai Lake. It is pointed out that there were four relatively warm and moist stages in Qinghai Lake basin during the Holocene. They formed in the periods from 10,300 yr.B.P. to 8,500 yr.B.P., 7,000 yr.B.P. to 3,500 yr.B.P., 2,800 yr.B.P. to 2,000 yr.B.P. and from 1,300 yr.B.P. up to now. The climate in the Holocene optimum period, from 7,000 yr.B.P. to 3,500 yr.B.P., was much warmer and moister than that today. Polypodium plant grew luxuriantly around Qinghai Lake. The annual temperature was 2.5℃ higher than that today, but there was no forest at Qinghai Lake shore. It is found that there was a good relationship between precipitation and water level fluctuation. In warm and moist period water level was high and in the cold and dry period it was low in the Holocene. There were four high water level periods for Qinghai Lake in the Holocene, but the highest level was less than 30m above present water level.