The decision tree model cost-benefit analysis method was used to analyse the strategies and economic benefits of immunization of newborns with hepatitis B vaccines in Jinan City. The results showed that all the three vaccination strategies could all produce positive benefits. Their BCR were 42.41 to 48.01. Through the decision analysis, it concluded that stress should be laid on the blocking of mother-to-infant transmission, and that if there are sufficient HB vaccines, all newborns should be vaccinated. In addition, the results of sensitivity analysis indicate that the benefits of HB vaccination are outstanding and quite stable.