The inherent decentralization and security properties of blockchain make it well suited to address today's educational decision-making challenges. The educational policy evaluation index system is built on the basis of blockchain technology. The purpose of this paper is to study and implement educational policy formulation based on blockchain technology, and to systematically analyze the theoretical basis for educational policy formulation and evaluation using blockchain technology-related theories, combined with normative research, comparative research, and empirical research methods. This paper analyzes the process of educational policy formulation, designs an educational policy evaluation model, and provides a systematic and standardized management method for educational policy formulation and evaluation. The indicator weight calculation results show that the policy effect accounts for 43%, the policy effect accounts for 23%, and the policy effect accounts for 25%. In addition, taking the education policy of M province as an example, to verify the scientificity and operability of the education policy evaluation model established in this paper, the results show that the actual effective rate of the province's education policy is 63.56%, and the overall result is "average". It belongs to the middle and lower classes, which is in line with the actual situation.