Qiongbei volcanic area of Hainan Province has apparent resource, economy and geography dominance in hot dry rock (HDR) geothermal resource extraction, which does not exist in other areas in China. So the authors presented a bold primary conception of HDR extraction system project in this paper. The project contains boring design, artificial reservoir design, interval distance design of different cycling well units, geothermal resource quantity estimate of single cycling well unit and design of appropriate installed capacity and service life. The paper also gave an investment analysis according to MIT Economic Model of HDR extraction. The preliminary cost-effectiveness analysis indicates that Qiongbei volcanic area of Hainan is an ideal preferred place to start a demonstrational project of HDR geothermal extraction in China.