Tujuan penelitian ini adalah untuk mengetahui pengaruh Pendapatan Asli Daerah dan Dana Alokasi Umum terhadap belanja modal secara simultan dan parsial pada pemerintah kabupaten/kota di Provinsi Aceh dan peran Dana Otonomi Khusus dalam memoderasi hubungan antara Pendapatan Asli Daerah dan Dana Alokasi Umum terhadap belanja modal. Desain penelitian yang digunakan adalah desain kausal. Populasi dalam penelitian ini adalah 23 kabupaten/kota di Aceh dan diteliti seluruhnya, dengan periode amatan dari tahun 2013-2015 sehingga diperoleh 69 unit analisis. Data diolah dengan uji regresi linier berganda menggunakan SPSS. Hasil penelitian membuktikan bahwa Pendapatan Asli Daerah dan Dana Alokasi Umum berpengaruh baik secara simultan maupun parsial terhadap belanja modal. Dana Otonomi Khusus dapat memoderasi pengaruh Pendapatan Asli Daerah dan Dana Alokasi Umum terhadap belanja modal. The objective of the research was to find out the influence of Local Own Revenue and General Allocation Fund on Capital Expenditure simultaneously and partially in Province/City Government in Aceh, and the role of Special Autonomy Fund in moderating the relationship of Local Own Revenue and General Allocation Fund with Capital Expenditure. The research used causal design. The population was 23 provinces/cities in Aceh, and whole observed. The period of observation was since 2013 until 2015, so there were 69 analysis units all together. The data were processed by using multiple linear regression tests with an SPSS software program. The result of the research showed that Local Own Revenue and General Allocation Fund both simultaneously and partially influenced Capital Expenditure. Special Autonomy Fund could moderate the relationship of Local Own Revenue and General Allocation Fund with Capital Expenditure.