With the rapid development of urbanization and modernization, the population of traditional villages migrates into surrounding areas, causing the hollowing of traditional villages. The disintegration of China’s traditional village means the loss of historical memory and cultural characteristics of ethnic regions, seriously endangering the country’s cultural heritage. To better understand the hollowing phenomenon, this study analyzed 2645 villages from the Chinese traditional village catalogue (Batch 5) and evaluated different village attributes, including location, household registration, permanent population, number of traditional buildings, cultural relics, historical buildings, and non-heritage representative projects. We constructed an evaluation index system and used the entropy weight method, comprehensive evaluation method, and correlation analysis method to quantitatively assess the characteristics and influencing factors of hollowing among traditional Chinese villages. The main results are as follows: ① The hollowing index was above 0.5; most traditional villages have entered the stage of high hollowing. ② The traditional villages with hollowing index above 0.9 comprised 92%, and those between 0.8 and 0.9 made up 6%. Those with hollowing index at intervals 0.7–0.8, 0.6–0.7, and 0.5–0.6 accounted for 0.98%, 0.30%, and 0.11%, respectively. ③ Population hollowing is the fundamental cause of traditional village hollowing. In more than 99% of traditional villages, the population hollowing index was greater than 0.7. ④ More than 99% of traditional villages have a building hollowing index greater than 0.4, and more than 92% of the villages had a per capita number below 0.1. ⑤ The cultural hollowing rate for most traditional villages was very high. The cultural hollowing index for more than 99% of traditional villages was greater than 0.7. This study provides references for government administrators and scholars in rural revitalization and traditional village hollowing governance.