Among the ten pilot national parks in China, the Shennongjia National Park possess distinct ecological values and a significant ecological position. However, scant research exists on the trade-off/synergy relationship and supply-demand balance of ecosystem services (ESs) in the newly designated Shennongjia National Park, hindering effective ecological management and value realization. Drawing on assessments of water yield, soil conservation, carbon sequestration, water purification, and habitat quality in Shennongjia National Park from 2010 to 2020, this study employed correlation analysis, hotspot analysis, and a trade-off/synergy model to investigate the interplay of ESs, utilized the supply-demand ratio to assess the balance of ESs, and ultimately determined the value of residual ESs employing market value and alternative cost methodologies. Results show that: (1) the aggregate quantity of ESs in Shennongjia National Park showed an upward trend. Water yield and soil conservation decreased first and then increased significantly, while carbon sequestration increased first and then decreased. The spatial pattern of water purification, carbon sequestration and habitat quality was relatively stable, with key factors including rainfall, altitude, vegetation type, among others.; (2) with the exception of the robust synergistic link between water yield and habitat quality, the interactions between paired ESs were predominantly trade-offs, particularly in the northwestern sector of the Hubei Shibali Changxia National Nature Reserve and Hubei Duheyuan National Nature Reserve; (3) the hotspot zones of categories 2 and 3 were the largest and showed an increasing trend, while the hotspot zones of categories 4 and 5 decreased over time; (4) the provision of water yield, soil conservation and carbon sequestration services consistently surpassed their demand, and the overall supply-demand ratio escalated annually; (5) after meeting the local demand for ESs, the residual ESs values of the Shennongjia National Park increased from 14.406 billion yuan to 21.662 billion yuan. In order to better realize the global management of the newly designated Shennongjia National Park and promote the pilot implementation of the national park. It’s necessary to pay attention to the value of ESs in the Shennongjia National Park, actively explore the realization mechanism of ecological product value, transform ecological benefits into economic value, and improve the local human well-being of. In the future, the northwestern part of the Shennongjia national park (i.e., the Hubei Shibali Changxia National Nature Reserve and Hubei Duheyuan National Nature Reserve) should be the key target place for ecological management and benefit regulation, and actively explore the value realization mechanism of ecological products.