The present study was attempted to find the effects of structural properties of phosphorus on the water quality of Gyehwa reservoir in Saemangeum. Relationship of phosphorus fractions between water and sediment properties was closely examined, and a few types of phosphorus were found from the sample sediment as : Saloid-P, Al-P, Fe-P, Ca-P, Red-P and Occd-P. Saloid-P (1.4%), Al-P (0.5%), Fe-P (39.8%), Ca-P (56.6%), Red-P (0.4%), Occd-P (1.3%) were extracted in a mass basis from the sediment of Gyehwa reservoir. Approximately more than 97% of phosphorus were calcium related phosphorus (Ca-P, 56%) and iron bound phosphorus (Fe-P, 39.8%). The Fe-P closely relates with water quality of T-N (r=0.761, p<0.05), $NO_3$-N (r=0.754, p<0.05), $NH_4$-N (r=0.728, p<0.05), T-P (r=0.774, p<0.05) and $PO_4$-P (r=0.767, p<0.05) while the Ca-P did not show any consistent dependency on the water quality. On the other hand, the correlation of Ca-P with $P_2O_5$ was high with r=0.783 (p<0.05) in the sediment. The Fe-P was affected significantly on the Ignition Loss (r=0.569, p<0.05), T-N (r=0.715, p<0.05) and T-P (r=0.983, p<0.01). In the research of correlation between phosphorus fraction and heavy metals in the sediment, Ca-P did not show any specific relationships with heavy metals. The Fe-P showed a significant correlation with As (r=0.817, p<0.01), Cu (r=0.793, p<0.05), Cd (r=0.786, p<0.05), Zn (r=0.738, p<0.05), so that it can be stated that the presence of Fe-P may implicate the volume of various metallic elements.