Ecological conservation and the delineation of protected areas have gained global prominence in recent years. In a pioneering move, China has proposed and implemented the Ecological Protection Redline (EPR) system nationwide, establishing a fundamental framework for safeguarding national ecological security and enhancing ecosystem management. Despite the establishment of Ecological Protection Redlines (EPR), systematic evaluation and comprehensive research on their conservation effectiveness remain limited and in a nascent phase. Taking Hebei Province as a case study, this research conducts a quantitative analysis by employing the final material conversion method to assess the value of seven key ecosystem regulation services within both the province and its EPR areas across multiple time periods (2015, 2020, 2023), aiming to evaluate the protection effectiveness of these designated zones. The results show that: (1) The ecosystem service value (ESV) generated within the EPR zones is substantially higher than the provincial average. Remarkably, while the EPR area constitutes only 20.70% of the total provincial land area, it contributes 38.00% of the total estimated ESV, underscoring its disproportionate importance for regional ecosystem service delivery. (2) Interannual fluctuations in service values exhibited variation. With the exceptions of flood mitigation and water purification services, which showed minor declines, the majority of ecosystem services within the EPR zones demonstrated an overall positive or stable trajectory, suggesting a generally favourable protective effect attributable to the redline policy. (3) The existing ecological functional zoning framework within Hebei Province is demonstrated to be rationally configured. Key designated zones—specifically the sand-fixing zone on the Bashang Plateau, the water retention zone in the Yanshan Mountains, and the soil retention zone in the Taihang Mountains—have each successfully preserved their intended primary ecological functions. A quantitative analysis of ecosystem services further reveals that the water retention zone in the Yanshan Mountains exhibited particularly outstanding performance in maintaining a wide range of services. Furthermore, spatial heterogeneity analysis indicated that the services of carbon sequestration-oxygen release, and flood mitigation displayed relatively uniform distributions with minimal variability across the different zones. In contrast, the remaining ecosystem services evaluated showed substantially more pronounced and marked differences among the various ecological functional divisions. This study further deepens the conceptual understanding and methodological approach for evaluating EPR. Not only does it propose specific recommendations for optimizing the EPR system"s spatial configuration and management based on the findings, but the insights gained from the Hebei Province case are also intended to serve as a valuable reference for policymaking related to ecological protection redlines in China.