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Under the double pressures of economic growth and ecological environment protection, sea green transformation and the sustainable development of mariculture are critical. This paper constructs an evolutionary game model with the government as the main body and mariculture farmers (enterprises) as the main body and puts forward the research hypothesis. Based on 2006–2019 longitudinal data of nine provinces along China’s coast, using multi-period Difference-in-Difference (DID) and dual robust estimation, we empirically investigate the national oceanic ranch demonstration zones for the influence of the green sea aquaculture and their mechanism of action. The results showed that (1) the efficiency of green level of mariculture industry in China is not high, and the establishment of national marine pasture demonstration zone has not effectively promoted the improvement of green level of mariculture industry; (2) the institutional environment, unreasonable industrial structure, and lack of scientific and technological innovation have an effect on the national oceanic ranch demonstration area as the main causes of failure to effectively promote marine green farming; (3) the establishment of the national multi-period demonstration area in the north significantly hindered the growth of the green level of mariculture and fell into the “policy trap”, while the establishment of the national multi-period demonstration area in the south significantly promoted the growth of the green level of mariculture. The conclusions of this paper provide an empirical basis and reference for the improvement of the national marine pasture demonstration zone policy and the green transformation of mariculture to a certain extent. Full article