[Objective] To discuss land finance division due to regional differences during the urbanization process of Shandong Province in order to provide references for local government in taking feasible land policies and selecting targeted urbanization ways. [Methods] The main research method of clustering analysis was adopt in land finance division. [Results] The seventeen cities were classified into four land finance categories: high land price regions including Jinan, Qingdao, Jining and Zaozhuang City; high land tax scale regions including Zibo, Yantai, Taian and Heze City; low land finance scale regions including Dongying, Binzhou, Laiwu and Liaocheng City; and high land finance scale regions including Weihai, Weifang, Rizhao, Linyi and Dezhou City. [Conclusion] Different categories of land finance division have different characters. Therefore, some appropriate measures should be taken according to local conditions in intensively using land, developing the real economy, and avoiding blindly following to rely on land finance.