Abstract: Rural waste governance is one of the important ways to improve rural living environment and satisfy the farmers' longing for a better life. The response and its degree of farmers investment will directly affect the effectiveness of rural waste governance. Based on micro-survey data from 989 farmers, this paper integrates environmental responsibility and policy cognition, which belong to the internal perception level, and institutional trust belonging to the external relationship level into a unified analysis framework, explores the impact mechanism of farmers' willingness and level of investment in rural waste governance, and then uses the Double Hurdle Model (DHM) for empirical tests. The results show that: Firstly, the farmers' willingness to invest in rural domestic waste governance is between 7.62 and 16.42 yuan a household per month, while the willingness to invest in rural production waste governance is between  134.62 and 435.08 yuan a hectare per quarter. Secondly, environmental responsibility and policy cognition positively affect the investment willingness of farmers in rural waste governance and the investment level of domestic waste governance. The policy cognition also significantly promotes the investment level of farmers in production waste governance. Thirdly, institutional trust directly affects the willingness of farmers to invest in waste governance. At the same time, it positively regulates the relationship between policy cognition and the investment willingness and investment level of rural waste governance. In addition, it plays a negative regulating role between environmental responsibility and investment willingness of waste governance. It is suggested that while perfecting relevant policies, we should strengthen environmental education, improve farmers' understanding of environmental policies, and enhance their environmental responsibility, so as to stimulate their enthusiasm for investment in rural waste governance.