Low-cost UAV aerial photogrammetry and airborne lidar scanning have been widely used in forest biomass survey and mapping. However, the feature dimension after multisource remote sensing fusion is too high and screening key features to achieve feature dimension reduction is of great significance for improving the accuracy and efficiency of biomass estimation. In this study, UAV image and point cloud data were combined to estimate and map the biomass of subtropical forests. Firstly, a total of 173 dimensions of visible light vegetation index, texture, point cloud height, intensity, density, canopy, and topographic features were extracted as variables. Secondly, the Kendall Rank correlation coefficient and permutation importance (PI) index were used to identify the key features of biomass estimation among different tree species. The random forest (RF) model and XGBoost model finally were used to compare the accuracy of biomass estimation with different variable sets. The experimental results showed that the point cloud height, canopy features, and topographic factors were identified as the key parameters of the biomass estimate, which had a significant influence on the biomass estimation of the three dominant tree species in the study area. In addition, the differences in the importance of characteristics among the tree species were discussed. The fusion features combined with the PI index screening and RF model achieved the best estimation accuracy, the R2 of 0.7356, 0.8578, and 0.6823 were obtained for the three tree species, respectively.