Ecosystem service evaluations play an important role in the management and conservation of wetlands. However, current evaluation methods may count some services twice, and may not reflect the actual value of an ecosystem. In order to avoid the repeat accounting, this study divides wetland ecosystem services into ultimate services and intermediate services, and then uses ultimate services as the gross value of ecosystem services provided by the wetland. Here, we present a case study on the Zhalong wetland. The ultimate services accounted for include substance production, soil conservation, water purification, climate regulation, carbon fixation, flood regulation, gas regulation, recreation, science and education, and pollination. Intermediate services include net primary production (NPP), nutrient cycling, water conservation, groundwater recharge, and biodiversity maintenance. The methods employed in evaluating ecosystem services include the market value method, the replacement cost method, and the travel cost method. The results indicate the gross value of ecosystem services provided by Zhalong wetland is 67.94 billion Yuan RMB, and the value of the intermediate services is 47.15 billion Yuan RMB. The ranking of ultimate services in the decreasing order is as follows:climate regulation (420.00 × 10⁸ Yuan RMB), flood regulation (226.00 × 10⁸ Yuan RMB), gas regulation (17.35 × 10⁸ Yuan RMB), carbon fixation (8.6 × 10⁸ Yuan RMB), recreation (3.86 × 10⁸ Yuan RMB), pollination (1.74 × 10⁸ Yuan RMB), substance production (1.43 × 10⁸ Yuan RMB), water purification (0.3 × 10⁸ Yuan RMB), science and education (0.08 × 10⁸ Yuan RMB), and soil conservation (0.03 × 10⁸ Yuan RMB). The findings suggest Zhalong wetland is not only essential for regulating floods and storing carbon dioxide, but also plays an important role in regulating climate change. We suggest wetland management should aim to conserve wetland areas and increase tourism development in a balanced manner.