As e-commerce continues to develop, online shopping is becoming more and more popular, and community e-commerce platform emerges as the times require. To make the participants in the supply chain of community e-commerce platform play a greater role in value creation, the supply chain of community e-commerce platform can get more benefits. This paper studies the psychology of all participants in the supply chain of community e-commerce platform, so as to establish the value creation mechanism of community e-commerce platform. Through the research, it is found that by studying the psychology of the two main participants in the supply chain of community-based online store, community e-commerce platform and community leader, and considering whether they will do their best to participate in value co-creation, a two-party evolutionary game model is constructed. By calculating the dynamic replication equation, the influence of the psychology of the participants in the supply chain of the community-based online store on the supply chain revenue of the community-based online store is obtained, and the evolutionary trend of both parties in the game is simulated by Matlab. It is concluded that the key factors that affect the co-creation of the value of a community-based online store supply chain are the proportion of increased income, the cost of participating in co-creation of value, and the purchasing power of consumers brought by participating with both parties. Finally, some suggestions and countermeasures are put forward through the analysis of simulation results.