Accurately accounting for the value of ecological products and scientifically constructing ecological compensation zoning schemes is crucial for promoting the synergistic balance between watershed ecological protection and socio-economic development, as well as enhancing the overall sustainable development capacity of regions. Based on the valuation of ecological products in 529 counties of the Yellow River Basin for the years 2002, 2007, 2012, 2017, and 2022, this article explores the factors influencing the value of ecological products. By considering the economic development, ecological footprint, and ecological carrying capacity of each county, the study employs the two-stage clustering algorithm (SOM-K-means) to delineate the ecological compensation zones in the Yellow River Basin. The study finds: ① There are significant spatial differences in the influence of natural factors such as average annual precipitation, vegetation normalization index，and elevation, as well as socio-economic factors such as total population at the end of the year, industrial structure, and nighttime lighting on the value of ecological products in the Yellow River Basin. Among them, the impact of natural factors such as annual precipitation and elevation on the ecological product value is closely related to the geographical and climatic distribution, while socio-economic factors such as population and industrial structure are key to optimizing the supply of ecological product value through policy interventions in the future, promoting coordinated development between regional economy and ecology. ② The ecological product value in the upper, middle, and lower reaches of the Yellow River Basin has shown an upward trend, with increases in the values of supply, regulation, and cultural services. Among these, the supply services have seen the largest increase, cultural services have developed rapidly, and regulation services have contributed the most, demonstrating the significant effects of ecological protection and sustainable development, as well as regional disparities. ③ The ecological compensation zoning in the Yellow River Basin aligns with the basic ecological function requirements of the basin. The payment zones are mainly concentrated in the economically developed lower reaches and some middle reaches, the balancing zones are located in regions with relatively balanced economic development and ecological protection needs, and the receiving zones are found in the economically underdeveloped upper reaches and the ecologically fragile areas in the middle reaches. This study can promote the precision and differentiation of ecological compensation, optimize resource allocation, improve the efficiency of ecological compensation, and drive the continuous improvement of the ecological environment in the Yellow River Basin.