http://www.tutorialsgarden.com/articles/8-Vray-water-material/

Hi again. This days on TG you can find some basic material for Vray. This one is for water. If you want very realistic render you need to use V-ray Render plugin. On picture below I was use  water material.

1 Open Material Editor by pressing M on your keyboard.

2 Click on Get Material button, and chouse Vray material from Materail/Map Browser

3 Rename material to “Water”

4 Click on Diffuse color, and set to black.

5 For the Reflect color use this settings: Red 232, Blue 232, Green 232

6 In the Refraction menu change Refract color to pure white and change Max depth to 10. See picture below.

7 Scroll down and find Options menu. Just turn on “Reflect on back side”

That is all. Like I said this material is for V-ray. Just to know, results of this material while you render also depend from your Render and Lighting settings