DTS (descriptive translation studies), a translation theory formulated by J. Holmes and G. Toury, provides us with a new perspective on the study of modern translation studies. Since Shui Hu Zhuan was translated into English for the first time in 1872 in Hong Kong, there have been more than 10 complete or abridged versions to date. This paper, by adopting the diachronic descriptive approach, historically studies some of its major English versions and translators, systematically analyzes their different translation strategies and techniques, and summarizes the historical and cultural factors influencing the whole process of its translation so as to give a comprehensive account of the history of English translation of Shui Hu Zhuan and gain a deeper insight into the very nature of translation activities.