Based on the 34th Chinese Antarctic scientific expedition "Xiangyanghong 01" cruise around the Antarctic Peninsula from January to February 2018, the properties and exchanges of water masses in the region of Antarctic Peninsula were analyzed. The main water masses are Antarctic Surface Water, Circumpolar Deep Water, Warm Deep Water, Antarctic Bottom Water, Bransfield Srait Bottom Water. Weddell Sea Warm Deep Water and Weddell Sea Deep Water flow into Scotia Sea through the Orkney Passage, the Bruce Passage on the east of the South Orkney Plateau and the Hesperides Gap on the west of the South Orkney Plateau. Among them, the deepest current velocity is 0.25 m/s in Orkney Passage, which allow denser Weddell Sea Deep Water to flow to Scotia Sea; the current velocity is 0.13 m/s in Bruce Passage, which allow warmer Warm Deep Water flows and the temperature of Warm Deep Water passing through this gap is the lowest, and the current velocity is 0.10 m/s in Hesperides Gap, only colder Warm Deep Water and lighter Weddell Sea Deep Water can pass. Southward currents and northward currents were observed on both sides of the South Orkney Plateau, but northward currents and water exchange are stronger. Water flow westward along the north side of the South Scotia Ridge after entering the Scotia Sea through the Passages on both sides of the South Orkney Plateau, with a velocity of 0.21 m/s. A branch of Antarctic Circumpolar Current in Drake Passage flow eastward to Scotia Sea, and influenced by Warm Deep Water and Weddell Sea Deep Water flowing westward, Circumpolar Deep Water in the Scotia Sea is obviously weaker than that in the Drake Passage. Affected by the eastward Antarctic Circumpolar Current, Weddell Sea Deep Water on the north side of the South Scotia Ridge is warmer than that on the south side. The water on the South Scotia Ridge may be affected by the Circumpolar Deep Water and Warm Deep Water in the north, Shelf Water in the West and Winter Water in the east, so the structure of the water on the South Scotia Ridge is much complex.