Selecting the data of listed companies in heavy pollution industry from 2012 to 2017, the paper studies the impact of agency cost on the quality of environmental information disclosure,based on the hometown sentiment of internal management and the regulatory role of external marketization process.The results show that agency cost is negatively related to the quality of environmental information disclosure, and when the agency cost is lower, the level of corporate environmental information disclosure is higher, and this effect is more significant in state-owned enterprises. After the introduction of regulatory variables, the hometown feelings of enterprise management and the process of marketization will play a reverse regulatory role in the relationship between agency costs and environmental information disclosure, which will help to curb the adverse impact resulting from the increase of agency costs. The conclusion can provide some useful reference for enterprises to reduce the agency cost and improve the quality of environmental information disclosure.