Correctly estimating the economic value for the sequestration of carbon in forest vegetation can provide basic data for the evaluation of eco-benefits in forest ecosystems. We used forest resource inventory data of Sichuan Province from 1997 and 2014 to estimate the economic value of forest carbon sequestration in Sichuan Province in two periods. The results show that from 1997 to 2014, the economic value of forest carbon sequestration in Sichuan Province increased from 70.317 billion yuan to 86.575 billion yuan. The net increase was 16.258 billion yuan and the average annual growth was 0.956 billion yuan, with an average annual growth rate of 1.36%. In 1997 and 2014, spruce fir forest had the largest economic value, which accounted for 54.82% and 46.62% of the total carbon sequestration economic value, respectively. This indicates that spruce fir forest plays an important role in the economic value of forest carbon sequestration in the province. The economic value of carbon sequestration in natural forests and planted forests in Sichuan Province showed an increasing trend, and the economic value in planted forests (7.42%) was significantly higher than that in natural forests (1.03%). The economic value of forest carbon sequestration in Sichuan Province generally increased with the increase of forest age groups. The results show that the implementation of forest protection and management measures, including natural forest protection projects, played an important role in improving the economic value of forest carbon sequestration.