Pumped storage power station has the characteristics of flexible operation, rapid response, clean and low-carbon, which can provide a variety of high-quality auxiliary services such as peak load regulation, valley filling, and backup power supply for power system. At present, Hebei, Shandong, and other provinces have launched market-oriented trading such as bidding of the electricity for pumping of pumped storage power station. With the gradual establishment of spot markets in various pilot provinces, the market-oriented trading of pumped storage power stations needs to be further improved, and a normalized trading mechanism should be formed to enhance the operating efficiency of pumped storage power stations. First of all, the operation modes and electricity pricing mechanisms of pumped storage power station at home and abroad was compared and summarized. In view of the problems faced by the operation of pumped storage power stations under the existing policy mechanism in China, specific schemes for pumped storage power stations to participate in market trading under the background of power market were put forward. And a case study was carried out taking Zhejiang Province as an example. The results show that the market-oriented trading mechanism has positive significance for guiding pumped storage power station to participate in market trading to obtain reasonable profit, improving the operation efficiency of pumped storage power stations in the electricity market, and promoting their long-term sound development.