Clarifying the farmers' dependency index of ecosystem services (DIES) and analyzing the impact mechanism of different factors on farmers' DIES can provide reference for coordinating the relationship between nature reserve protection and community development. It is of great practical significance to implement the rural revitalization strategy and promote the sustainable development of nature reserves. Taking Guangxi Fangcheng Golden Camellia National Nature Reserve as an example, based on 323 household survey data, the farmers' DIES in different locations from the nature reserve and different livelihood strategy types were compared. Finally, SmartPLS 3.0 was used to construct a Structural Equation Model with formative indicators to analyze the impact mechanism of factors such as natural resource endowment, family characteristics, geographical location and establishment of nature reserves on farmers' DIES directly or indirectly through the mediator variable of livelihood strategy. The results showed as follows: (1) The average DIES of farmers in Guangxi Fangcheng Golden Camellia National Nature Reserve was 0.326, which was at a low level. The local farmers mainly relied on the ecosystem provisioning services, and were less dependent on regulating services and cultural services. (2) Different locations from nature reserves and livelihood strategies types significantly affected the farmers' DIES. The average DIES of farmers in, near and outside the nature reserve were 0.404, 0.330 and 0.294, respectively. The average DIES of farmers in the nature reserve was significantly higher than that of farmers outside the nature reserve. The average DIES of pure farmers, concurrent households and non-agricultural households were 0.593, 0.366 and 0.151, respectively, and there were significant differences among them. (3) The degree of influence on farmer DIES in descending order was livelihood strategy type, family characteristics, natural resource endowment and establishment of nature reserves, with total effect of -0.564, -0.305, 0.235 and 0.135, respectively. Among them, family characteristics only had indirect effects on farmers' DIES through the mediating effect of the path of family characteristics → livelihood strategies → DIES, natural resource endowment had both direct and indirect effects on farmers' DIES, and establishment of nature reserves only had direct effects on farmers' DIES, while geographical location had no significant effect on farmers' DIES. Based on these findings, encouraging farmers to develop by-businesses and non-agricultural livelihood transformation are effective ways to improve farmers' life and reduce their DIES. Adjusting the farmers' DIES structure and encouraging farmers to change from a high dependence on provisioning services to a combination dependence on provisioning services, regulating services and cultural services; or to extract provisioning services in ways that do not harm the ecosystem is more conducive to the coordinated development of nature reserve and community.