<p>Population outmigration and rural decline are pressing global challenges. In response, China has promoted the active revitalization of rural homesteads as a strategic pathway toward rural revitalization. In Shandong Province, where mountainous and hilly terrains constitute a substantial share of the land area, the inefficient use and idleness of homesteads are particularly acute. At the same time, the region’s abundant natural endowments offer considerable potential for homestead reuse, positioning it as a key pilot area for national rural revitalization efforts. Adopting a bottom-up analytical perspective, this study investigates farmers’ willingness to participate in homestead revitalization and identifies the critical factors shaping their decisions. Grounded in the Theory of Planned Behavior and Resource Dependence Theory, and employing Random Forest, Probit models, and Geodetector, we examine the mechanisms through which policy perception and resource endowment influence farmers’ willingness in Shandong’s mountainous and hilly areas. The results indicate that policy perception significantly affects farmers’ willingness, while multiple dimensions of resource endowment, including human, housing, land, and village-level resources, also exert notable influences and serve as key supporting factors for viable revitalization. Moreover, policy perception and resource endowment exhibit a pronounced synergistic effect in driving farmers’ willingness. Based on these findings, we recommend that governments strengthen policy dissemination and implementation, upgrade rural infrastructure, and develop locally tailored specialty industries to enhance farmers’ willingness and thus comprehensively advance rural revitalization.</p>