The externalities of arable land utilization brings both economic and socio-ecological benefits to state and farmers. The estimation methods of social stability value, social security value and ecological benefits value of arable land resources were discussed based on the construction of appropriate value system. The results showed that:(1) The social stability benefit of arable land resources in Wuhan City was increasing year by year, from 1.50×10⁸ yuan in 1996 to 4.24×10⁸ yuan in 2009;(2) The social security benefit of arable land resources was decreasing year by year, from 7886.65 yuan/(hm²·a) in 1996 to 6618.74 yuan/(hm²·a) in 2009, which indicated that the social security system in rural needed to be established urgently.(3) The ecological benefit value of arable land resources showed a trend of rising after falling, and the change of arable land quantity was an important influence factor. The general socio-ecological value fluctuant trend of arable land resources in Wuhan City was rising. It is necessary to fully take into account the value of arable land resources due to the coexistence of extension growth, and extensive, inefficient utilization of city land in our country.