This study was carried out to investigate the effect of hydro power factors (e.g., irrigation area, watershed area, active storage, gross head) on annual generation capacity and operation ratio for agricultural reservoirs in Chungbuk Province with active storage of over 1 million $m^3$. The annual generation capacity and operation ratio were estimated using HOMWRS (Hydrological Operation Model for Water Resources System) from last 10-year daily hydrological data. The correlation coefficients between annual generation capacity and the hydro power factors except gross head were high (over 0.87), but the correlation coefficients between operational rate and the factors were low (below 0.28). The optimum multiple regression equations of the annual generation capacity were expressed as the functions of watershed area, active storage, and gross head. Also, the simple regression equation of annual generation capacity was expressed as a function of watershed area. The average relative root-mean-square-error (RRMSE) between observed and estimated values by the optimum multiple regression equations was smaller than that by the simple regression equation, suggesting that the former has more accuracy than the latter.