The subsidies for countryside have brought a strong impact on rural governance, and the villagers’ political participation behavior has also changed. This paper constructs an analytical framework of “motivity-result-method”, analyzes the logic of the impact of subsidies for countryside on villagers’political participation from the three dimensions of interest relevance of subsidy, the fairness in subsidy distribution and the mode of subsidies for countryside, and makes an empirical test based on the questionnaire data of Y city in Henan Province. The results show that the interest relevance of subsidy and the fairness in subsidy distribution have a significant positive influence on villagers’ political participation. In the modes of subsidies for countryside, only the mode of “redistribution benefiting the villagers” characterized by high degree of interest relevance and high distribution fairness has a significantly positively effect on villagers’ political participation. In terms of specific political participation behavior, villagers’ election participation behavior is relatively less affected by the subsidies for countryside, but decision-making and supervision participation behaviors are significantly affected. From the perspective of improving the quality of villagers’ political participation, in the process of promoting rural revitalization, we should give full play to the redistribution function of village collectives and other organizations, enhance the interest relevance of the subsidies for countryside and ensure the fairness of distribution, so as to provide motivation and guarantee for villagers’ participation in rural governance.