A range of afforestation models have been developed to combat desertification in China. These models stress the integration of tree planting with other land-uses to reduce risks and produce multiple benefits. This paper describes how cost-benefit analysis can be used to select and choose between these models, taking into account the different time periods between planting and harvesting of trees and other crops. It also describes how the costs of desertification can be included in the cost-benefit analysis. The results show that most of the agroforestry and productive plantation models are financially viable, but that the revegetation models are not financially viable. However, the revegetation models could be economically justified, depending on the rate of increase in desert area. If the rate of increase is high enough to justify revegetation, the financial results of the analysis can be used to indicate the incentive that would be required to make these models financially attractive.