Rural tourism is a new driving force for achieving rural revitalization and development, promoting rural economic prosperity, and serving as a new industrial approach to achieving the transformation and upgrading of farmers’ livelihoods. This paper focuses on Manas County as the research subject and employs farmer questionnaire interviews and participatory rural appraisal methods to categorize villages into four types: “scenic area-dependent” villages, “industry-dependent” villages, “folklore-dependent” villages, and “suburban-dependent” villages. Based on the sustainable livelihood analysis framework proposed by the Department for International Development, we developed a sustainable livelihood framework for farm households in Manas County and analyzed the effects of rural tourism on farm households’ livelihood capital and livelihood strategies as the watershed of the rural tourism takes shape, taking livelihood capital and livelihood strategies as the entry point. The factors influencing the livelihood capital and livelihood options of farm households in the context of rural tourism are analyzed. The results show that: (1) The overall livelihood capital of farmers engaging in rural tourism is significantly greater than that of farmers not participating in rural tourism. Additionally, variations exist in the livelihood capital of different types of rural tourism within villages. (2) Participation in rural tourism significantly influences farmers’ choices of livelihood strategies. Compared with individuals who do not engage in rural tourism, those involved in rural tourism are more likely to opt for self-management livelihood strategies. The proportion of self-managed farmers in villages based around scenic areas is the highest. (3) The effect of rural tourism on farm households in Manas County is generally positive, and various types of villages yield different impact effects. (4) Participation in rural tourism significantly increases the possibility of farmers choosing self-management livelihood strategies, while it reduces the possibility of farmers choosing agriculture-oriented livelihood strategies. In all villages, except those dependent on industry, the decision to engage in rural tourism significantly impacts farmers’ selection of self-management livelihood strategies.
