Since 2009, forestry subsidy policies have been implemented in Southern Collective Forest for more than 6 years, the policy’s fairness and efficiency will be influenced deeply by the selection of groups who shared with the subsidies. It has high research value to discuss on this issue will help improve the aim of forestry subsidy policies more accurately in the future. Based on the theoretical framework of the impact on the fairness and efficiency of the forestry subsidy policies from forest management size, also 151 valid samples survey data in Zhejiang, this paper used logit and tobit models to analyze how forest management size have impact on the fairness and efficiency of the forestry subsidy policies, respectively. It found that local governments will encourage large-scale farmers to participate in the forest subsidy projects as much as possible for reducing transaction costs and seeking management efficiency, so the unfairness has existed in the implement of forestry subsidy policies; on the other hand, forestry subsidy policies really stimulated the inputs and activities for groups who shared subsidy policies compared with non-subsidy groups, however, the policies which focused on large scale households are still questionable , because the forest management input and activities has not been significantly improved with larger forest management size in subsidy group. On this basis, this paper gave some comments for improving the implement of forestry subsidy policies.