Five water stand for five forms existence models of water. In Karst area, Five water means precipitation, groundwater, evapotranspiration water, soil water, and overland flow. The complicated water-bearing hydrogeological media and the inhomogeneous water storage structure leads to low efficiency of water utilization. To reveal intricated water resources transformation in karst areas, a typical epikarst zone was selected. The Five water and their conversion processes were studied and the transformation models was built based on the long-term positioning observations. The results show that: (1) Overland flow can be generated when precipitation reaches 6 mm and lasts for 6 h. Under light and moderate rainfall (LMR) conditions, less than 6% of the precipitation is converted to overland flow. Under heavy rainfall and rainstorm (HRR) conditions, the conversion rate is 3.5%-6%. (2) Under the condition of LMR, there are 2%-3.5%, 40%-60% and 25%-35% that transformed to vegetation water, soil water and groundwater respectively, while it is 1.5%-2.2%, 25%-30% and 32%-50% under the condition of HRR. (3) The proportion of precipitation was transformed to soil water is 20%-70%. (4) The conversion rate of groundwater and karst fissure water for LMR conditions are 8%-15% and 10%-15%, and that for HRR is 15%- 20% and 20%-35%. (5) The proportions of different degrees of precipitation transformed into vegetation transpiration and evaporation water are 1.5%-3.5% and 6%-9%, respectively. (6) Generally, about 0%-4% of the precipitation is converted into overland flow, 20%-70% into soil water, 25%-50% into karst groundwater, and 1%-10% into evaporative water.