Erannis jacobsoni Djak. (EJD), a typical pest of coniferous forests in Mongolia, has severely threatened forest areas in recent years owing to its rapid development and spread. EJD feeds on needles and leaves, killing many trees and causing severe damage to forest ecosystems,which results in substantial local economic losses. The rapid and effective monitoring of forest pests is crucial for preventing or controlling infestations in a timely manner. To this end, in this study, we calculated spectral vegetation indices using UAV multispectral data, assessed ground survey data to determine the degree of pest damage, and conducted sensitivity analysis on the spectral vegetation indices. Nine sensitive spectral vegetation indices were selected to analyze the intramonthly and intermonthly variations in the spectral vegetation indices of forests during EJD infestation: the chlorophyll red-edge parameter index (CIreg), corrected NIR/IR simple ratio (GMSR), intensity index (Int and Int2), improved NIR/red-edge simple ratio (MSRreg), normalized difference NIR vegetation index (NDSI), soil adjusted vegetation index (SAVI), and salinity index (SI2reg and SI3). The results demonstrated that the variance F values of the sensitive spectral vegetation indices after screening using the successive projection algorithm were highly significant at the α=10−10 level, suggesting that these indices are highly sensitive to the level of pest damage. The intramonthly results were as follows: in June, CIreg, GMSR, Int, Int2, MSRreg, SAVI, SI2reg, and SI3 decreased with increasing pest damage, whereas NDSI increased; in August, the difference in index values between light, medium, and heavy damage and healthy stands was not significant; and in September, most of the index differences changed to mild > moderate > severe. Regarding the intermonthly results, the magnitude of the vegetation index values for each sensitive spectrum at different hazard levels was ranked as June > September > August, and the overall difference varied as δ3>δ2>δ1. The spectral vegetation indices apparently responded to different levels of pest damage, making them suitable for quickly and accurately monitoring the occurrence and development of forest pests. These results provide a reference for the monitoring of forest pests at spatial and temporal scales.