Objectives The valuation of ecological products serves as the foundation for realizing their values. To valuate the ecological product value of Beijing Municipality is of great significance for deepening the capital's practice of the concept that "lucid waters and lush mountains are invaluable assets".

Methods The conventional equivalent factor method for the valuation of ecological products was adapted for the evaluation of the spatiotemporal value of ecosystem products in Beijing Municipality from 2009 to 2021. Furthermore, multiple empirical methods were employed to analyze the socio-economic factors affecting the ecological product value.

Results The results demonstrated a general upward trend in the total ecological product value during the period from 2009 to 2021 in Beijing. Spatially, the total value and the value density of ecological products in urban areas were generally lower than those in suburban regions. Miyun District ranked first in total ecological product value and second in value density, while Yanqing and Huairou Districts were identified as the top two in terms of the total value, and Daxing and Pinggu Districts were recognized as the top two in terms of the value density. Forests and wetland ecosystems contributed the highest proportions, jointly accounting for over 75% of the ecological product value. Socioeconomic factors including economic development level, population size, urbanization progress, industrial development, industrial structure, and agricultural conditions were significantly correlated with changes in ecological product value, while with heterogeneity across the regions with various dominant-functions.

Conclusion The ecological product value of Beijing Municipality has exhibited an upward trend between 2009 and 2021, while currently demonstrating heterogeneity across different districts. Correlations have been identified between the socio-economic factors, including economic development level, population size, urbanization progress, etc. and the changes of the ecological product value.