Abstract: The profit function of the participants of the power direct trading supply chain was firstly established, and then the supply chain benefit distribution model was constructed in the direct power transaction using the blockchain smart contract. The benefits could be automatically matched according to the distribution factor and settles according to the supply chain benefit distribution model, so as to realize the optimal interests of each enterprise in the direct supply chain of the electric power while ensuring the optimal interests of the entire supply chain. The example showed that the model can make the supply chain remains stable in the direct trade of electricity.