We assessed the economic value of key protected species of wild fauna and flora based on the contingent valuation method. In total, 5500 questionnaires were collected, of which 4672 were valid. Analysis of the valid questionnaires showed that the gross willingness to pay (WTP) was 209 yuan person^-1 a^-1, with fauna being 111.37 yuan person^-1 a^-1 and flora being 97.65 yuan person^-1 a^-1. The WTP was significantly different between different protection levels. Based on the national urban employment data of 2016, the gross value of all endangered species was 18.29×10³ billion yuan/a, with fauna being 8.20×10³ billion yuan/a and flora being 10.09×10³ billion yuan/a. Our analysis showed that economic income, education degree, knowledge, and interest in endangered species, and whether once participated in the activities aimed at endangered species' conservation are important factors that influence WTP.