Evaluation ecosystem service value (ESV) is critical, as “lucid waters and lush mountains are invaluable assets”. To assess the incremental effects of ecological assets on soil and water conservation in subtropical mountains, we developed a remote-sensing-driven mountainous equivalent factor (RS-MEF) method to estimate the ESV of Changting County, China. This method is a hybrid of a conventional equivalent factor framework and remote sensing techniques for mountains, achieving several advancements, including spatial adjustment using vegetation activity merged with productivity, improved spatial resolution, and the removal of topographic effects. Using the RS-MEF method, we estimated that the ESV of Changting County was approximately CNY 15.80 billion in 2010 and CNY 34.83 billion in 2022. Specifically, the ESV per unit area of the major soil erosion area (MSEA) in the county was less than that of the non-major soil erosion area (n-MSEA); however, the ESV growth rate of the MSEA from 2010 to 2022 was faster than that of the n-MSEA. Therefore, the ESV gap between the two areas was reduced from 28.99% in 2010 to 15.83% in 2022. Topographic gradient analysis illustrates that areas with elevations of 385 to 658 m and steep slopes achieved a high ESV, while high-elevation areas with gentle slopes will be a focus of control in the next phase. Our study demonstrates that significant achievements have been made in ecological restoration from an ESV perspective, with a notable reduction in low-ESV areas in the MSEA; the insights gained into ESV growth and its underlying factors are valuable and instructive for future soil and water conservation efforts.