Ecological protection redlines were identified using the remote sensing data of 2000 and 2010 as well as the other related data such as the meteorological data and statistical data in Zibo, Shandong, China. Ecological asset value and its variation with land use change were estimated in ecological protection areas. Results showed that ecological protection area in Zibo was 1132.26km², accounting for 18.98% of the total area of Zibo. The protection areas were mainly in central and southern regions. The main land use type was forests with the area of 52.91% and 54.65% of total protection area in 2000 and 2010, respectively. From 2000 to 2010, the areas of woodland, wetland, unused land, and construction land within the ecological protection redlines increased, while the areas of farmland, grassland, and water body decreased. In the decade, ecological assets of the ecological protection areas decreased by 23.13 million Yuan with a rate of 3.60%, suggesting that it was needed to improve ecosystem services through enhancing ecological protection.