The special bonds for rural revitalization can broaden the financing channels of the rural revitalization strategy and effectively break the bottleneck of capital constraints. According to the actual needs and policy background of government special bond issuance, using the evolutionary game theory based on the assumption of bounded rationality, this paper constructs the evolutionary game model of the issuance of Government Rural Revitalization special bonds, and analyzes the evolutionary stability of the strategic choice of the central government and local government. On this basis, the simulation method is adopted to introduce the scale coefficient and return coefficient of the special bond to simulate the behavior evolution process of the game players.The system simulation results show that the expansion of the scale of special bond debt and the increase in bond yield will inhibit and promote the orderly issuance of bonds respectively. Finally, combining the regulatory requirements of “safe repayment and special funds for special use” and the development concept of “prospering industry and expanding channels”, this paper puts forward the policy combination of sustainable development of special bonds for Rural Revitalization.