The core value of smart grid lies in the satisfaction extent of stakeholder’s demand, thus to construct an evaluation index system for smart grid it is necessary to construct a stakeholder’s demand index set at first to access the satisfaction extent of stakeholder’s demand reasonably and roundly. We divide the index system into the demand index set and assessment index set. As the former represents the macroscopic features while the latter represents the microscopic factors of the smart distribution grid. As for the calculation of combination weight, the DEMATEL-ANP-anti-entropy weight method and the improved Grey incidence approach is proposed. The DEMATEL-ANP-anti-entropy weight method is used for demand indices’ weight analysis, while the improved Grey incidence approach is put forward for the evaluation on assessment indices. Results of applying the proposed method in practical case shows that the proposed method is valuable in following aspects: scientifically assessing the intelligent development level and effectiveness of distribution grid, analyzing and recognizing the grid’s operation condition and weak link, giving reference to planning and construction of smart distribution grid, and so on.