Ecosystem services value is a hotspot research topic in ecology. The uniqueness of island ecosystems makes them more vulnerable to human activities and environmental changes. In revising the ecosystem services value coefficients, we evaluated the ecosystem services value and spatiotemporal dynamics of Jintang Island using remote sensing data from 1986 to 2014. The results showed that, as the area of construction land on the island continuously increased between 1986 and 2014, areas of other land types decreased at various rates. The ecosystem services value of Jintang Island showed a downward trend of 30.23%, and the total value decreased by 108 million yuan. Wetland and woodland lost the most ecosystem services value and the value changed most when used as construction land. From a spatial distribution perspective, areas with lower values expanded dramatically along the center with substantial human activities over the 28 years of the study period. Consequently, ecosystem products and services gradually declined in both quantity and quality, which is not conducive to the sustainable development of the island. This study provides a reference for revising ecosystem services value coefficients, as well as useful information for island economic development transformation and sustainable development.