Abstract: Based on the costs and benefits data of Chinese fir and Masson pine, this study used the growth equation and carbon storage in biomass transformation and expansion factor method to estimate carbon storage of Chinese fir and Masson pine respectively in southern collective forests region of China. Then, we compared the land expectation value with and without carbon benefits and analyzed the sensitivity of discount rate, input and output prices with developing Hartman model. The results showed that:(1)The rotation of Chinese fir was a half of the rotation of Masson pine, but Chinese fir had higher net profit than Masson pine in a single rotation.(2)The land expectation value of both species represented an inverse “U” shape, but the difference between Chinese fir and Masson pine increased firstly and then decreased.(3)The discount rate was negatively related to land expected value, there appeared a difference of sensitivity of two species at the same price factors.