Delaware River Basin Conservation Act of 2011

Delaware River Basin Conservation Act of 2011 - Requires the Director of the United States Fish and Wildlife Service to establish a Delaware River Basin restoration program, under which the Director shall: (1) draw on management plans for the Basin (defined as the four-state Delaware Basin region, including all of Delaware Bay and portions of Delaware, New Jersey, New York, and Pennsylvania located in the Delaware River watershed), or portions of the Basin, and work in consultation with applicable management entities, including representatives of the Partnership for the Delaware Estuary, the Delaware River Basin Commission, the federal government, other state and local governments, and regional and nonprofit organizations, to identify, prioritize, and implement restoration and protection activities within the Basin; (2) adopt a basin-wide strategy that supports the implementation of a shared set of science-based restoration and protection activities, targets cost-effective conservation projects, and supports measurable conservation efforts; (3) provide technical assistance to carry out the program; and (4) establish the Delaware River Basin restoration grant program to provide competitive matching grants to carry out the program.

Requires the Director to develop criteria to ensure that funded activities: (1) restore or protect fish and wildlife and their habitats; (2) improve or protect water quality by reducing pollutants and restoring headwater areas and drinking water basins; (3) improve management of water volume and mitigation of flood damage to support the ecological needs of fish and wildlife and the habitats of fish and wildlife; (4) include priority needs or actions identified in the basin-wide strategy; and/or (5) include restoration and protection activities with multiple benefits in the Basin, including habitat, water quality, and flood damage mitigation.

Limits the federal share of the total cost of a funded project to 50%.

Authorizes the Director to contract to manage the grant program with the National Fish and Wildlife Foundation or a similar organization that offers grant management services.