Based on a survey of the poverty alleviation resettlement (PAR) farmers in China, this paper aims to investigate the relationship between the expected value, perceived value and regret mood of the relocated farmers. The results show that the expected value can positively affect the perceived value, and the latter negatively impact the regret mood of the PAR farmers. On average, the farmers with regret and non-regret sentiments are approximately fifty/fifty in percentage terms. Internal factors, such as demand levels, and external factors, such as relocation costs, also have significant effects on the regret mood of farmers after they have relocated. However, those factors have significant differences in their impacts on poor and non-poor households. Several political implications are also provided.