Accurate estimation on lake evaporation was vital to hydrology, meteorology and limnology. Based on the data of water budgets, meteorological and stable isotopic observation over Lake Taihu from 2013 to 2015, the evaporation of Lake Taihu was estimated using the isotopic mass balance model, the water mass balance method and the Priestley-Taylor model. The seasonal and inter-annual variabilities of lake evaporation were analyzed, and the performance of the water balance method and the stable isotopic water balance model were evaluated with the Priestley-Taylor model result as reference. The results indicated: Evaporation of Lake Taihu was higher from May to September and less in winter. Annual evaporation in 2013, 2014 and 2015 was 1069, 894 and 935 mm, and the inter-annual variation was controlled by weather condition. Lake evaporation during the period from December 2013 to November 2014 calculated using the Priestley-Taylor model was 885 mm, and the result of the isotopic mass balance model was similar with a value of 893 mm. Whereas it was overestimated significantly by the water balance method with a value of 1247 mm.