Grassland ecological protection compensation and reward policy is the largest-scale investment concerning themost extensive areas since foundation of the PRC. It will be the long-term implementationpolicy for grassland ecological protection. In this study,based on macro-perspective, the policy effects ofgrasslandproductivity, ecological protection, animal husbandryoutput, pastoralists' income were ana- lyzed. The resultsshow that, afterimplementation of the policy, naturalgrass production and grasslandtheoretical stocking rateincreased. The averagenatural grasslandlivestockoverloading ratedecreased significantly, comprehensivenationalgrasslandvegetation coverageis increasing. Besides, adult cattleandbeef yield arefluctuated. Sheep head, adult sheep, sheep production, milk productionincreasedin varying degrees. The per capita netincomeof farmers and pastoralists, livestock income, the proportion oflivestockincomewere higher than those beforeimplementation of the policy.