Can deserts be transformed into resources, into assets, and further into cash? It is necessary to scientifically assess desert ecological assets and incorporate them into the national economic accounting system and the current evaluation system for socio-economic development. This study will provide a scientific basis and robust data for establishing a target system that is compatible with both ecological civilization and an associated reward and punishment mechanism, as well as for designing and implementing effective compensation policies for desert ecosystems. This paper first defines desert ecological assets, and then develops a framework for assessing them based on the evaluation of desert ecological resources and desert ecosystem services. This framework paves the foundation for quantitatively assessing desert ecological assets and preparing balance sheets of desert ecological assets. Finally, this paper analyzes current policies relating to desert ecological compensation, discusses how to design compensation policies based on assessment of desert ecological assets, and puts forward suggestions for improving current policies.