Owing to the pressure of other industries and the spillover effect of urbanization, farmland has been transformed to other uses. As a result, it has caused significant impacts on inter- and intra- sectors in quantitative and qualitative perspectives. Furthermore, according to the Economic Revitalization Project, the government will release 160,000 hectares' farmlands to meet the needs from other industrial development. Expectedly, this will have various impacts on urban-rural development. In the past, the process of urban-rural development is always examined in terms of economic development. However, in view of the "limit to growth," urban-rural development must not be evaluated merely based on "the-more-the-better" economic rules. From the perspective of sustainable development, this study develops dimensions of "life," "efficiency," and "equity" to evaluate the impacts of farmland release on urban-rural development. The Delphi technique is adopted to verify those dimensions. In the dimension of life, three principles must be met: system diversity, system reversibility, and locality characteristic maintenance. In the dimension of efficiency, four principles must be followed: land use reversibility, recyclable economic model, land resource suitability, and location suitability. In the dimension of equity, three principles are included: the consideration of the cost of reversibility and substitutability, options of the decedents, balance of the advantageous and disadvantageous. The analytic hierarchy process (AHP) is used to confirm the evaluation structure. Based on the evaluation structure, this study explores the possible impacts of farmland release on urban-rural development.