At present, farmland abandonment (FA) is a serious problem in China, severely restricting agricultural production. In this context, it is of great significance to explore the logical relationship between high-standard farmland construction (HSFC) and FA to optimize land resource allocation and guarantee national food security. Based on a sample of 838 farmers in the main rice production area of the Yangtze River Basin in China, this study employed the Tobit model, the mediating effect model, and the moderated mediating effect model to analyze the impact of HSFC on FA at the micro level. The results show the following: (1) HSFC inhibits FA and the FA proportion decreases by 1.15% for every 1% increase in the HSFC proportion; the robustness test and endogeneity treatment also yield consistent conclusions. (2) The inhibitory effect of HSFC on FA varies greatly among different farmers and is more significant for part-time farmers and those with a higher degree of land fragmentation. (3) Agricultural socialization services (ASS) play a positive mediating role in the influence path. HSFC promotes the farmers’ purchase of ASS, which in turn inhibits FA. (4) The agricultural labor transfer distance (ALTD) plays a positive moderating role in the relationship between HSFC and FA. The farther the distance, the more likely it is that HSFC can promote the farmers’ purchase of ASS and inhibit FA. The results provide insights regarding how to precisely implement the HSFC policy, i.e., to inhibit FA by improving the construction of high-standard farmland and the post-construction management and protection system. Building targeted construction programs and operational systems that consider the differences in the target groups, improving the standard and capacity of ASS to ensure sustainable benefits for farmers, and promoting the non-agricultural transfer of surplus agricultural labor can create conditions for the modern transformation of the traditional rural economy.