The Loess Plateau of China is one of the most severe soil and water loss areas in the world. Since 1999, the Grain to Green Program (GTGP) has been implemented in the region. This study aimed to analyze spatial and temporal variations of ecosystem services from 2000 to 2015 to assess the effects of the GTGP, including carbon sequestration, water regulation, soil conservation and sand fixation. During the study period, the area of forest land and grassland significantly expanded, while the area of farmland decreased sharply. Ecosystem services showed an overall improvement with localized deterioration. Carbon sequestration, water regulation and soil conservation increased substantially. Sand fixation showed a decreasing trend mainly because of decreased wind speeds. There were synergies between carbon sequestration and water regulation, and tradeoffs between soil conservation and sand fixation. It was concluded that ecological projects have contributed significantly to the rehabilitation of the fragile ecosystems of this region. To make these projects more successful and sustainable, long-term management procedures are necessary to maintain and consolidate the improvements.