The low economic value of agricultural land/rice fields because the multifunctional benefits of agricultural land have not been internalized into the calculation of farming business. On the other hand, understanding of people that agricultural land is only a direct use or benefit of cultivation medium that produces products and already has a market price is also one of the causes of the low economic value of agricultural land/rice fields. In addition to producing direct use or benefits as cultivation media that produce products and already have a market price, agricultural land/rice fields also produce benefits for environmental service products that do not yet have a market price. The research objectives were (1) to analyze the economic value of agricultural land/rice fields as media for rice cultivation; (2) to analyze the economic value of the benefits of agricultural land/rice field environmental service products as flood control; (3) comparing the economic value of agricultural land/rice fields as media for rice farming cultivation with the benefits of environmental service products as flood control. The method used in this study was an economic valuation with a replacement cost method (MBP) analysis tool and a farming profit calculation method. The results showed that (1) the economic value of agricultural land/rice fields as direct users or benefits of rice farming cultivation media is Rp. 24,500,000 per hectare per year. (2) The economic value of agricultural land/rice fields as a producer of benefits of environmental service products as flood control is Rp. 128,808,000 per hectare per year. (3) The comparison of the economic value of agricultural land/rice fields as the benefits of rice farming cultivation media with the benefits of environmental service products as flood control is (1: 5).