Abstract: Uncovering the effects of different land consolidation modes on farmers’  livelihood stability can provide new perspectives for scientifically evaluating the practical performance of land consolidation, and also provide new methods for effectively improving the sustainability of farmers’  livelihoods.Based on the analysis of the influencing mechanism of different land consolidation modes on farmers’  livelihood stability, a difference-in-differences model was constructed using 949 questionnaires from farmers in Hubei Province to reveal the net effect of different land consolidation modes on farmers’  livelihood stability.The results indicated that the local government-dominant mode significantly decreased the composite index of farmers’  livelihood stability by 0.032.Specifically, the indices of natural resource dependence, livelihood richness, and livelihood balance obviously decreased by 0.016, 0.012, and 0.034, respectively; the index of income dependence significantly increased by 0.034.In contrast, the new agricultural business entities-dominant mode evidently increased the composite index of farmers’  livelihoods stability by 0.045.Specifically, the indices of natural dependence and income dependence obviously reduced by 0.055 and 0.039, respectively; the indices of livelihood richness and livelihood balance significantly increased by 0.020 and 0.039, respectively.Compared to the local government-dominant mode, the new agricultural business entities-dominant mode significantly decreased the index of natural resources by 0.055.Therefore, it is highly recommended to strengthen the farmer-oriented principle of local government-dominant mode, and increase the proportion of new agricultural business entities-dominant mode to improve farmers’  livelihoods stability.