Tourist communities have enjoyed the benefits of tourist development in various regions and have paid the associated costs, resulting in different attitudes towards tourism development in World Heritage Sites. On this basis, this study takes the Mount Sanqingshan National Park, a World Natural Heritage site, collects 330 examples of perceptions of residents of tourism communities, relies on social exchange theory and community participation theory, uses structural equation modeling as a technical methodology, and constructs a conceptual model, including perceived benefits and costs, community satisfaction, and place attachment as mediating variables from the view of tourism’s social, economic, environmental, and heritage protection impacts. The study shows that: first, the perceptions of benefits have a significant positive influence on place attachment and community satisfaction; second, the perceived cost has a significant negative influence on place attachment, and a negative influence on community satisfaction does not hold true; third, place attachment has a full mediating effect on tourist cost perception and satisfaction, a partial mediating effect on tourist benefit perception and satisfaction, and a significant positive effect on community satisfaction. Finally, we propose the ‘SHE-ABC’ framework of WHS tourist community satisfaction based on the perspectives of heritage tourism impact perception and place attachment. The results of the study have theoretical value and practical guidance to sustainable development, tourist industry, and community management of World Heritage Sites.