[Objective] The spatiotemporal evolution, driving mechanisms, and carbon economic value of terrestrial ecosystem carbon storage and habitat quality in Hubei Province were analyzed in order to provide a scientific basis for regional ecological protection and green low-carbon development. [Methods] Based on land use data from 2010 to 2023, this study utilized the PLUS model to simulate land use patterns under natural development, economic development, and comprehensive development scenarios in 2030. The InVEST model was employed to evaluate the spatiotemporal variations of carbon storage and habitat quality. The geodetector was employed to analyze the driving factors, and the present value method was used to estimate the economic value of carbon storage. [Results] ① Land use exhibited a pattern of ‘initial expansion followed by optimization’. After 2020, ecological policies effectively curbed the expansion of construction land and promoted the restoration of forestland and water bodies. ② Carbon storage showed a trend of ‘initial decline followed by rise’, with a spatial distribution of ‘high in the west and low in the east’. Slope, elevation, and NDVI were the primary drivers of the spatial differentiation, and the influence of socioeconomic factors strengthened gradually. ③ Habitat quality declined overall but showed local improvements. Low-quality habitats expanded. The western mountainous areas of Hubei Province maintained high quality, while the central plains were significantly affected by human activities. ④ Under the comprehensive development scenario, the economic value of carbon storage reached the highest value (2.69×1013 yuan) through ecological restoration and land use regulation. [Conclusion] Natural and anthropogenic factors jointly drive the evolution of carbon storage and habitat quality. Under the comprehensive development scenario, a win-win outcome of ‘carbon sink enhancement’ and ‘quality improvement’ can be achieved, thereby providing scientific support for ecological planning in Hubei Province.