Water conservation is an important function of forest ecosystems, but it is still unclear which forest types function best in this regard. We investigated the water conservation function indicators including the water-holding rate of branches and leaves (BL wr ), water-holding capacity of litter (L wc ), water absorption rate of litter (L wr ), soil infiltration rate (I r ), soil and water content (SWC), soil water storage (SWS), and soil organic matter (SOM) accumulation of five forest types (Larix gmelinii forests, Pinus koraiensis forests, Robinia pseudoacacia forests, Pinus tabulaeformis forests, and mixed forests) and evaluated them using the gray correlation method (GCM). The results indicate that the BLwr of five stands in the study area varied from 18.3% to 33.5%. The SWC and SWS of the R. pseudoacacia stand were 13.76% and 178.9 mm, respectively, which was significantly higher than that of the other stands (p < 0.05). The SOM was similar for the R. pseudoacacia (0.23%), mixed forest (0.22%), and L. gmelinii (0.22%) sites. The BL wr , L wc , L wr , SWC, and SWS values of broad-leaved tree species were higher than those of the mixed species, followed by those for coniferous tree species. Soil infiltration rate followed the order L. gmelinii > P. koraiensis > mixed forest > P. tabulaeformis > R. pseudoacacia. Based on our results, the R. pseudoacacia stand had the highest water conservation ability, while the lowest performance was found for the P. tabuliformis site. This suggests that, in order to enhance the water conservation function of forests in northeastern China, the focus should be on the establishment of R. pseudoacacia forests.Sustainability 2019, 11, 4075 2 of 13 scale of small watersheds, albeit with complex calculations [16,17]. The Gray correlation method is widely used as a relatively simple and reliable analysis method [18]. The results of this method are accurate and can be used to analyze the development trend of a system. In addition, there is no requirement in terms of sample number, and a typical distribution law is not needed because the amount of calculations is relatively low [19][20][21].The mountainous area of Eastern Liaoning is a typical seasonal dry area in China. Precipitation is unevenly distributed (about 70% of precipitation occurs in June-September), with serious water shortage [22]. Against the background of a warming climate, these water shortages will be aggravated, restricting the water conservation function of vegetation in this area [22]. Only by adapting to this arid environment, plants can maintain their ecological benefits and functions. Larix gmelinii, Pinus koraiensis, Robinia pseudoacacia, Pinus tabulaeformis, and mixed forests are widely distributed in the eastern Liaoning Mountains [22]. After long-term natural selection and co-evolution, they have shown a strong ecological adaptability. However, we do not know which forest type has the highest water conservation capacity, making it necessary to compare these forests, incorporating global climate change data....