As the paramount grassland conservation initiative in China's grazing regions,comprehending the satisfaction levels and impact mechanisms of herders regarding the Pastureland Rehabilitation Program is crucial for refining project administration and advancing grassland regeneration. This paper used the methods of fuzzy-set qualitative comparative analysis and optimal scale regression to explore the impact of four types of value perceptions and five types of livelihood capital on herdsmen's satisfaction from a configuration perspective based on the survey of 266 herdsmen in Maduo County,the source area of the Yellow River. The results showed that: (1) Neither single value nor capital was a necessary precondition for herdsmen's high or low satisfaction,and there were multiple configuration paths that led to high and low satisfaction among herdsmen; (2) Herdsmen with high satisfaction could be categorized into two types: those possessing positive value perception and high livelihood capital,and those with positive value perception and low livelihood capital. In scenarios characterized by high value perception and high psychological capital,the presence of financial,material,and social capital,irrespective of being high or low,could result in high levels of satisfaction among herders; (3) Herdsmen with low satisfaction can be categorized into two types: those with negative value perception and low livelihood capital,and those with negative value perception and partially high capital. In scenarios characterized by low value perception and low psychological capital,the high level of some types of livelihood capital would not change herdsmen's low satisfaction; (4) Compared with livelihood capital,value perception had a stronger impact on herdsmen's satisfaction. The four values of rationality,efficiency,fairness and efficiency,along with psychological capital,synergistically exerted significant positive influences on herdsmen's satisfaction,and the influence direction of other types of livelihood capital were constrained by the configuration relationship; (5) Strengthening the delivery of equitable value was pivotal for preventing diminished herder satisfaction,and improving the management level across the project lifecycle,as well as consolidating the psychological and financial capital of herdsmen,were effective strategies to enhance herdsmen's satisfaction.