Abstract: Comparising with the large enterprises, the violation of promise and regulations of listed SMEs have occured frequently. It is importance to study the credit risks of listed SMEs for the purpose promoting the healthy development of SMEs. The DEA model based on Nomal/Worst DEA concept is introduced, and then the credit risks of listed SMEs in China are evaluated by this model. The result indicates that the credit risks of listed SMEs on basis of the model prediction is relatively correct in the past two years, the selection of input index and output index for the model has a higher accuracy and is more operable.