We have investigated the valley degeneracy of MoS 2 multilayers and its effect on thermoelectric properties. By modulating the layer thickness and external electric field, the hole valleys at Γ and K points in the highest energy valence band and the electron valleys at K and Σ min points in the lowest energy conduction band are shifted differently. The hole valley degeneracy is observed in MoS 2 monolayer, while that of electron valley is in MoS 2 bilayer and monolayer under the external electric field. By tuning the valley degeneracy, the Seebeck coefficient and electrical conductivity can be separately controlled, and the maximum power factor can be obtained in n-type (p-type) MoS 2 monolayer with (without) the external electric field. We suggest that the transition metal dichalcogenides are good example to investigate the role of valley degeneracy in the thermoelectric and optical properties with the control of interlayer interaction and external electric field strength.