An evaluation of a region’s green development status is an essential prerequisite to improve region’s ecological environment. Indicator systems used for such evaluations within previous studies mainly based on the meanings ascribed to green development. However, these meanings were relatively narrow, focusing primarily on economic development and environmental protection. Therefore, in this study, we proposed an updated definition of green development, and proposed a corresponding “five-circle” model of green development. We devised a methodology to determine an evaluation indicator system of green development based on “five-circle” model. We used a combination of subjective and objective weight methods to evaluate the green development performance of Beijing-Tianjin-Hebei, which is China’s core economic zone. The results of the evaluation indicated a general improvement in the overall performance of this region during the period 2006–2017. Within the region, Beijing ranked highest because of the strong performances of its economic advancement, resource utilization, and social progress indexes. Tianjin’s economic advancement and social progress indexes performed well, but its ecological environment index performed poorly. In Hebei, the economic advancement and social progress indexes were both underdeveloped. In conclusion, we offer policy recommendations to promote green development in the Beijing-Tianjin-Hebei region.