Dike-ponds are a type of ecological agricultural land formed by man-made depressions in ponds where silt is accumulated as dikes to farm fish and grow crops such as mulberry and sugarcane; they are mainly distributed in the Pearl River Delta. Ecosystem services refer to the living environment they provide for human beings, as well as the various types of ecosystem products and functions that are beneficial to human beings. In recent years, Ecosystem Service Value (ESV) has become a hot topic for scholars in China and abroad. Using the Pearl River Delta’s birthplace, Foshan City (FS), as a case study, the Millennium Ecosystem Assessment (MA) framework, which combines the characteristics of a dike-pond ecosystem and the social and economic conditions of the study area, is used to adopt the market price method, replacement cost method, and shadow engineering method to estimate the ESV of dike-ponds in FS in 2000, 2009, and 2017. Additionally, Dike-pond’s ESV in FS law of change was discussed and the influencing factors of ESV changes in dike-ponds were analyzed. The results show that during the study period of 2000-2017: 1) a few towns (streets) such as Lubao Town and Hecheng Street in the west and north, respectively, of FS have increased their dike-pond area, while Beijiao Town and Lecong Town in the east and south, respectively, have significantly decreased their dike-pond area to 19,244.47 hm2, which have been mainly transferred to construction land. 2) In 2000, 2009, and 2017, the ESV of dike-ponds in FS first decreased and then increased to 1,661.91×108 and 978.60×108, and 1,166.37×108 yuan, respectively. The overall trend is a declining one, with a total decrease of 495.54×108 yuan. In the three years, the proportion of adjustment functions in the total ESV is higher than 86%, which is the core function. Among the individual functions, the value of tourism and leisure increases the most, with an average annual growth rate of 19.36%. The value of climate regulation decreases significantly, by 589.37×108 yuan. 3) The ESV of dike-ponds in the southeast of FS is the highest. The western and northern regions are less affected by human activities and the ecological environment is suitable in this region; thus, the ESV of the dike-ponds increases accordingly. While the high level of industrialization and urbanization in the eastern and southern regions, serious pollution in the dike-ponds, and shrinkage of the dike-ponds all caused the ESV to decline, the material production and tourism and leisure values of the dike-pond of each research unit generally increased. The value changes of the remaining individual functions show strong consistency in space, i.e., the value of the towns (streets) in the northwest and southwest has increased significantly and the value in the southeast has decreased. 4) The results of a Geodetector probe show that a change in the Gross Domestic Product (GDP) of primary industries is the principal factor affecting the spatial distribution of the ESV of dike-ponds in FS, followed by the change in GDP, population density, population, investment in fixed assets, GDP of the secondary industries as well, and impact of policy factors, none of which should be ignored. Measures such as controlling the scale of development, restoring green vegetation, and giving importance to the advantages of the dike-pond landscape to increase the ESV of the dike-pond are all recommended.