Abstract: There exist five problems in collective forest management: fragmentation and decentralization of forest land, difficulty in forestry financing, poor liquidity of forest resources assets, low level of forestry management, and difficulty in guarantee of farmers' income. Based on the theory of property right transaction and from the perspective of capitalization of forest resources, this paper summarizes the mode of "forest ticket practice" in Sanming City, Fujian Province, analyzes the operation mechanism of forest ticket practice from four aspects of resources integration, equity cooperation, share quantification and market operation, and analyzes the capitalization of collective forest resources based on the logic of "resource asset capital" value realization process. Finally, the paper expounds that the forest ticket practice solves five problems in the process of collective forest management: equity cooperation realizes scale operation; pledge loan increases financing channels; share quantification promotes market circulation; professional division promotes intensive operation; cooperative operation brings benefit sharing. The research has important practical reference value for promoting the "Three Rights Separation" of forest land to improve the level of forestry intensive management, realizing the double promotion of forest ecological and economic benefits, and forming the mechanism of capital into the mountain and forest.