Abstract: Since the implementation of forest ecological benefit compensation policy for 20 years, it has played an important role in sustainable forest management, but its implementation effect on farmers in ecological protection red line area is worth further study. Based on the survey data of farmers in ecological protection red line area in four counties (districts) of Jiangxi Province and Hubei Province, OLS regression and quantile regression were used to analyze the impact of forest ecological benefit compensation on farmers’ income level, and ordered probit model was used to analyze the influencing factors of farmers’ policy satisfaction. The results show that: (1)Forest ecological benefit compensation has a significant positive impact on the low-income farmers in the ecological protection red line area; (2)Farmers’ satisfaction with the compensation policy of ecological public welfare forest is high, reaching 65.81%, but there is still room for policy improvement; (3)Forest ecological benefit compensation, income status and policy perception have a significant positive impact on farmers’ policy satisfaction in ecological protection red line area. Therefore, we should increase the intensity of forest ecological benefit compensation in the ecological protection red line area, especially pay attention to the "hematopoietic" industrial poverty alleviation work of low-income farmers; at the same time, strengthen the publicity of policies and the implementation of funds, so as to improve farmers’ satisfaction.