Even though seasonality is an important concern in tourism research, only a few scholars have focused on the seasonality of rural tourism. Therefore, this study examines seasonality in rural tourism destinations. We adopt a mixed research approach to explore the sustainable livelihoods of households in rural tourism destinations from a seasonality perspective, using the case of rural tourism destinations in Yulong River basin, Guangxi, China. First, in-depth interviews and grounded theory are used to construct a sustainable livelihood model for households in rural tourism destinations under the influence of seasonality. Second, the model is tested using the data envelopment analysis model and statistical analysis. We find that (1) psychological capital, a previously neglected livelihood capital, is an important component of rural households’ livelihood capital in rural tourism destinations under the influence of seasonality; (2) rural tourism does not significantly improve rural livelihoods due to seasonal influences; and (3) participating in tourism work in the off-season and combining it with other work practices are the main livelihood strategies of rural households to cope with seasonality; however, over-dispersing resources reduces the livelihood efficiency. This study’s findings will prove useful for policy formation by governments to deal with seasonality in rural tourism.