Abstract: Ice waves, a special ice phenomenon, easily form when the ice particles move together under an ice sheet, and their motion characteristics are closely related to the formation of ice jams, accumulation evolution and ice transport capacity. To explore the characteristics of ice wave motion and ice transport capacity, the basic governing equation of ice wave motion and the equation of ice transport rate were established theoretically based on the previous studies and sediment transport theory, and the constitutive relationship between the ice transport intensity of a non-dimensional cover load and the water flow intensity was further deduced. Results show that the formation of ice waves requires certain hydraulic conditions. The change of ice wave height and backflow surface wavelength is related to the Froude number Fr, which represents the water flow intensity, and is also affected by the water depth and the resistance under ice. The established ice transport rate formula reflects the relationship between ice transport capacity and flow conditions. In addition, the influence of the ice sheet was taken into account to optimize the calculation result of ice transport capacity. In general, there is a complex function relationship existing between the ice transport intensity and the water flow intensity, but the water flow intensity is still one of the main and convenient indexes reflecting the ice transport capacity. The research results can provide a theoretical reference for the calculation of river ice transport capacity in cold regions, and can also help to reveal the formation mechanism of ice jam.