By taking the policies of financial agriculture-support as external transfusion guidance， based on the panel data of 30 provinces and municipalities of China during 1997—2011，the relationship between farmers’ income structure and financial support policy evolution and farmers’ consumption is analyzed，and the research finds that there is significantly positive influence of all kinds of farmers’ income on their consumption expenditure，i.e.，their coefficients rank from big to small is in turn family business income，transferred income，wage income and assets income，however，in recent years，the impact of farmers’ wage income and transferred income on their consumption expenditure is gradually increasing，on the contrary，the contribution of farmers’ family business income to their consumption is gradually decreasing，that financial support to agriculture and the loans of financial agencies to agriculture also play significantly boosting role in farmers’ consumption. Thus，China should optimize the distribution direction of farmers’ income structure and financial agriculture-support input，actively promote the expansion of farmers’ assets income and transferred income，and enlarge the input expenditure in financial agriculture-support and production credit input in rural credit.