The "14th Five-Year Plan" emphasizes a good follow-up job for poverty alleviation and relocation to ensure the livelihood of relocated migrants. To promote a sustainable livelihood of migrants has become the focus. Based on the sustainable livelihood theory，this study analyzes the capital for relocated migrants'' livelihood before and after the relocation of M community through field investigation，and discusses the relocated people''s follow-up livelihood development. The study shows that after relocation，migrants'' livelihood capital has increased and their livelihood has improved，but there are still risks to their livelihood，such as poor employment continuity，relocated people''s lack of endogenous motivation，and insufficient development of industries in relocation areas. To solve these problems，this paper puts forward corresponding policy suggestions mainly from the aspect of developing human capital to improve relocated people''s sustainable development capabilities.