Green finance is of great significance in improving the ecological environment and achieving the purpose of energy conservation and emission reduction. In order to explore the influence of green finance on carbon intensity, four indicators of green credit, green securities, green insurance and green investment are adopted to construct the green finance development index in this paper. Based on the panel data of 30 provinces in China from 2009 to 2019, a dynamic spatial Durbin model is constructed and the method of partial differential matrix is selected to analyze the influence of green finance on carbon intensity in the short and long terms. The empirical results show that (1) the development of green finance in local area has positive effect on the reduction of carbon intensity. (2) with the significant spatial spillover effect on carbon intensity, green finance can reduce the carbon intensity of the adjacent area and promote the development of low-carbon economy. (3) dynamic test results prove that in terms of direct effect and spatial spillover effect, green finance has a greater long-term effect on carbon intensity.