River networks have experienced serious degradation because of rapid urbanization and population growth in developing countries such as China, and the protection of these networks requires the integration of evaluation with ecology and economics. In this study, a structured questionnaire survey of local residents in Shanghai (China) was conducted in urban and suburban areas. The study examined residents’ awareness of the value of the river network, sought their attitude toward the current status, and employed a logistic regression analysis based on the contingent valuation method (CVM) to calculate the total benefit and explain the socioeconomic factors influencing the residents’ willingness to pay (WTP). The results suggested that residents in Shanghai had a high degree of recognition of river network value but a low degree of satisfaction with the government’s actions and the current situation. The study also illustrated that the majority of respondents were willing to pay for river network protection. The mean WTP was 226.44 RMB per household per year. The number of years lived in Shanghai, the distance from the home to the nearest river, and the amount of the bid were important factors that influenced the respondents’ WTP. Suggestions for comprehensive management were proposed for the use of policy makers in river network conservation.