Abstract: Based on the time series data of Hubei Province from 2000 to 2017, this study used the idea of dimensionality reduction to explore the variables that affect farmers′ income using principal component analysis and VAR model. Through screening, two public factors that affect farmers′ income were obtained, namely education level and technological development.Empirical research showed that there was a long-term co-integration relationship between education level, technological development and farmers′ income. According to the granger causality test, the two variable factors had a positive effect on farmers′ income growth, and this promotion effect was one-way and could be prominent in the short term.In summary, we should continue to increase investment in technological innovation, continuously increase the length of compulsory education, reduce barriers to the introduction of talents, and provide a source of power for technological innovation.