Based on the mission and task analysis of the near space hypersonic ISR vehicle, the index system is establishedto evaluate the operational capability of the near space hypersonic ISR vehicle. Each index is weighted by considering thedevelopment status of the hypersonic vehicle and the criticality and maturity of technologies, and the evaluation criterion ofoperational capability is built. The operational capability of a conceptual scheme designed for hypersonic ISR vehicles isevaluated using this evaluation criterion, and the result is compared with that of the SR-72 of the US. The results show the aerodynamic layout of the hypersonic vehicle has a large impact on operational capability, and the configuration with highlift-to-drag ratio can improve the payload capability of the hypersonic vehicle significantly under the same range condition,which in turn improves the overall operational capability. The results can provide technical support for the demonstration,development and evaluation of the hypersonic ISR vehicle.