Abstract: Based on years' investigation of Panjin wetland, with reference of the indexes and methods of wetland ecological evaluation at home and abroad, twelve indexes reflecting wetland ecological service, protection and social cultural value functions are selected to conduct the ecological evaluation on Panjin wetland by AHP. The result shows that the overall ecological environment is good (CEI=0.7082). The functions of flood homogenization, climate regulation, tourism value, biodiversity conservation and ecosystem stability play important roles in determining the value of wetland. Countermeasures are put forward against the problems of land subsidence, surface soil and vegetation destruction, environmental pollution and groundwater over-exploitation in Panjin wetland, which provides reference for wetland protection and exploitation.