This paper discusses the economic, social and ecological values of farmland in Yancheng city of Jiangsu province by establishing farmland values system. Connotation, majority and relation of farmland resources values impose influences on estimation of farmland resources values. Estimation based on production capacity is of usability and maneuverability. Yancheng's farmland resources values are closely related to regional economic level, farmland natures and farmers living level. All types of values vary spatially: economic value is upside-down U-shaped, social value is polarized, and ecological value rises southward. Economic and social values amount to 90%, with average total values up to 2.37 million RMB per hm2. Estimation of farmland resources can provide references for confiscated land compensation and occupied-compensated-balance, and for accounting natural resources assets.