Although recent years have witnessed a considerable increase in studies on the economic value of ecological products, the extant literature has overlooked the multidimensional enhancement of ecological product value from the perspective of farmers’ well-being. This research aims to examine how the Realization of Ecological Product Value (EPVR) serves as a crucial pathway to promoting the overall well-being of farmers in developing countries. Through a case study of a village in southeastern China, this research reveals that EPVR can enhance farmers’ well-being via various mechanisms as follows: (1) Economic solution to enrich farmers’ livelihood diversity, achieved by leveraging rural resource endowments and comparative advantages; (2) Fair social protection program enabling farmers to enjoy ecological benefits and further achieving urban-rural integration; (3) Environmental protection plan that balances production, living, and ecology; and (4) Grassroots governance tool promoting the governance ability to form collaborative governance model in a community of shared interests. This study offers theoretical support for enhancing human well-being through the realization of ecological product value in rural areas.