The separation from forest compensation allocation and forest ecosystem services has been a long-term barrier for restricting proper functioning of forest ecological conservation. It is of great significance to establish an incentive and restrictive mechanism coupling the effects of forest conservation with allocation of forest compensation funds in order to improve the ecological compensation system and ensure national ecological security. In this study, we selected Masson pine (Pinus massoniana) forests as the research target and used field investigation and laboratory analysis to accurately evaluate the value of four main ecosystem services in the forests, namely carbon sequestration, water conservation, soil fertility conservation, and biodiversity protection. Based on a classic growth curve (Raymond Pearl), an ecological compensation algorithm was developed to determine the standard compensation value for ecosystem services in Masson pine forests. The results showed that, firstly, the total ecosystem services value of Masson pine forests ranged from 10335.86-16358.06 yuan hm^-2 a^-1, with the four services valued at 165.93-521.03; 5024.47-11788.30; 3597.84-6405.04; and 178.57-1346.15 yuan hm^-2 a^-1 for carbon sequestration, water conservation, soil fertility conservation, and biodiversity protection, respectively. Secondly, the spatial pattern of carbon sequestration and soil fertility conservation value decreased with increasing latitude; whereas, the water conservation and biodiversity protection value increased with latitude. The forest ecosystem services value was also affected by vegetation types and forest management practices, as it was higher in the mixed Masson pine stands compared to the pure Masson pine stands and was higher in the stands that had undergone thinning and replanting by silvicultural practices compared to the afforestation stands after clear cutting. Lastly, the forest ecosystem services standard compensation value in Masson pine forests ranged from 0.15-1.43×10³ yuan hm^-2 a^-1 which was determined by the unit price of forest ecosystem services. This study provides a quantitative basis for measuring and evaluating forest ecosystem services and standard compensation value accurately.