The Kunyu Mountain Natural Reserve is an original habitat and natural distribution center of Pinus densiflora in China, which has the largest area of distribution and the most complete protection of the natural forest ecosystem of Pinus densiflora. In this paper we assessed the direct and indirect ecological service values using shadow engineering method, opportunity cost method, market value method and other methods. The ecosystem services value of the natural reserve is 499×108yuan/a. The economic value of per unit area is 32351yuan/ (hm2?a). The direct value is 0.32×108yuan/a, accounting for only 6.42% of the total. The indirect value is over 4.67×108yuan/a. The ratio of direct value to indirect value is ca. 1:15. The order of indirect value of ecosystem service is: water conservation>air quality purifying>provisioning of habit>erosion control>C fixation and O2 release> recreation and culture. Despite the Kunyu Mountain Nature Reserve takes only 9.71% in area of the Muping, the ecosystem services value accounts for 7.00% of GDP in Muping District in 2003. For each local individual, the available ecosystem services value can reach 1039 yuan per year. In conclusion, the Kunyu Mountain Nature Reserve plays a decisive role in maintaining the sustainable development for the local society.