One of the core issues of the new urbanization and ecological civilization construction is developing strategies for obtaining larger economic and social benefits with smaller ecological resource loss in China. In this study, Hubei Province, which has rapid urbanization, was considered a typical case area, and the stochastic frontier analysis (SFA) was used to measure the land use efficiency, ecological performance index, and ecological efficiency of each county in Hubei Province. The following results were obtained in this study. (1) We found that the non-constrained model had a better explanatory power than the constrained model did and the average land use efficiency increased by 1.4% after the addition of the ecological variable. (2) The average land use efficiency of Hubei Province was 0.882, whereas the overall land use efficiency was high and the counties with ecological performance indexes (EPIs) greater than 0 accounted for 75.73%. Furthermore, an increase in land use efficiency (LUE) resulted in EPI values showing inverted U-shape changes that first increased and then decreased. (3) The ecological efficiency (EE) of the counties of Hubei Province were between 0.778 and 0.989 and showed an obvious characteristic spatial pattern. In addition, the high-efficiency counties showed "A" type distribution characteristics that indicated the Wuhan metropolitan region was the point whereas the Yangtze River and Hanjiang River were on the axis. This study revealed that the relationship between land use, ecological system, and economic benefit in rapid urbanization area could provide a reference for new urbanization development, efficient utilization of land resources, and strategies for protecting ecological resources.