Coastline ecological restoration is a critical approach for improving the coastal ecological environment and natural disaster mitigation capacity. Zhejiang Province, with the longest coastline in China, has carried out a three-year action of coastline remediation and restoration, expecting to complete the 300-km coastline restoration by 2020 as part of China’s coastline restoration project. We developed a cost–benefit framework synthesizing the ecosystem services (ES) analysis pattern and input-output approach to evaluate Zhejiang’s coastline ecological restoration projects. The results showed that the average value of ecosystem services (VES) of coastline restoration in Zhejiang was approximately 11,829 yuan/m, which was lower than the average VES of natural coastline. Obviously, damaged natural coastline could cause VES degradation, which cannot make up for the loss in a short time. In an optimistic scenario, coastline ecological restoration projects would deliver enormous well-being to Zhejiang and even China. Our results suggested that making decisions should be based on the net value after accounting for costs (NES), because ignoring costs might mislead planners to overstate the perceived benefits. The study provided a realistic data basis and method for coastline restoration projects in terms of the design, implementation and effectiveness evaluation to achieve sustainable development. © 2022 by the authors. Licensee MDPI, Basel, Switzerland.