Ecological compensation is becoming one of key and multidiscipline issues in the field of resources and environmental management. Considering the change relation between gross domestic product (GDP) and ecological capital (EC) based on remote sensing estimation, we construct a new quantitative estimate model for ecological compensation, using county as study unit, and determine standard value so as to evaluate ecological compensation from 2001 to 2004 in Zhejiang Province, China. Spatial differences of the ecological compensation were significant among all the counties or districts. This model fills up the gap in the field of quantitative evaluation of regional ecological compensation and provides a feasible way to reconcile the conflicts among benefits in the economic, social, and ecological sectors.