Assessment of ecosystem services is vital for successful natural resource allocation; however, these have been less studied within Vietnam. This study estimated the ecosystem services value (ESV) and its change in Cham Chu nature reserve, Vietnam using a benefit transfer method. Ecosystem service values estimation and trend analyses were carried out based on land use and land cover datasets from 1986, 1998, 2007, and 2017, with their corresponding global value coefficients. The results revealed that the total value of ecosystem services in Cham Chu was approximately 64.4, 63.9, 60.7, and 63.4 million USD in 1986, 1998, 2007, and 2017, respectively. Changes have also occurred in the values of individual ecosystem service functions. From 1986 to 2017, ecosystem service functions showed significant decreases in gas regulation, pollination, biological control, water regulation, water supply, and food production of 62.9%, 51.2%, 44.4%, 24.7%, 23.1%, and 13.0%, respectively. We conclude that the loss of ESV is a result of ecological deterioration in the studied landscape, and we propose further research to examine future solutions and establish action strategies. In summary, the research approach methodology developed can be used by land managers and planners in Vietnam as a guideline to estimate the importance of ecosystem services in Vietnam.