Social equity is essential in the governance of protected areas (PAs), as ignoring such consideration can lead to resistance and jeopardize conservation objectives. However, more research is required to understand the spatial heterogeneity of perceived social equity and its underlying spatial factors. Using a survey of 361 respondents, we presented spatial distribution patterns of perceived equity by kernel density estimation (KDE) in Giant Panda National Park, China. The regression analysis showed that local residents who live closer to the PA boundary are more likely to develop negative responses and those who with easy access to tourism spots have more positive procedural and distributional perceptions. Notably, the proximity to the PA authority decreases locals’ perceptions of fairness in all aspects, which is potentially due to the opaque participative channels provided by the PA authority. We argue that those spatial differentials in fairness perceptions are driven by the intrinsic discrepancy of biodiversity protection requirements and the unevenly distributed consequences of management policies. Key steps to advance social equity considerations include multi-industry guidance, extending participative channels, and co-producing better compensation plans. Herein, this study appeals to a greater focus on the spatial aspect of social equity issues in PAs.