Abstract: Farmers are the micro-operating subjects of the development of the camellia oleifera industry. Analyzing the existing subsidy policy’s effects on farmers’ tending investment behaviors of camellia oleifera is very helpful to further understand the influence mechanism of farmers’ tending investment behaviors. Based on a survey data of 216 camellia oleifera farmers from five counties and cities of Fujian Province, and adopting the robust regression method, this paper analyzed the subsidy policy and the other factors that affect farmers’ tending investment behaviors of camellia oleifera. Results show that, currently, the camellia oleifera subsidy and the tending investment level are generally low, with averages of 9 510 and 13 690 yuan respectively. The subsidy of camellia oleifera has a significant positive effect on farmers’ tending investment behaviors. The existing subsidy policy is helpful to increase farmers’ tending investments of camellia oleifera. In addition, the operating area of camellia oleifera, labor cost, and the limited local non-agricultural employment opportunities have significant positive effects on farmers’ tending investment behaviors of camellia oleifera. However, farmers with non-agricultural labor skills and the head of the households’ age have significant negative effects on farmers’ tending investment behaviors. Based on the above analysis results, this paper provides the following suggestions: increasing the support to camellia oleifera’s tending links from the perspectives of capital, technology and other fields, improving management and technical levels of farmers through training and other programs, and achieving large-scale operation through the union or other forms.