Based on the hypothesis of individual-bounded rationality, this study analyzes the mechanisms of farmers’ cultivated land abandonment behavior, theoretically and empirically, by integrating the theory of planned behavior (TPB) and a structural equation model (SEM). On the basis of the TPB’s logical analysis framework of farmers’ abandonment behavior, combined with social psychology, behavioral economics, and a household behavior model, this study analyzes the influence of attitude on behavior, the subjective norm, and perceived behavioral control on farmers’ abandonment actions, then verifies it via an SEM Model. The research shows that farmers’ abandonment behavior accords with the theory of planned behavior. Farmers’ recognition of the negative impacts of abandonment, the intervention of important other persons, and the obstacles encountered in the process of abandonment can effectively restrain farmers’ abandonment behavior. Finally, by considering the determinants for farmers’ abandonment decisions, this study proposes to curb abandonment practices through measures that include strengthening publicity about abandonment, creating a favorable atmosphere for farming, and improving tillage conditions.