The primary aim of this study was to examine the effects of river restoration and greening projects on individuals’ environmental experiences and well-being during water-based recreational activities. The study involved surveys and interviews with both residents and academic experts along the Mulan River in China. Data were collected through random and purposive sampling. Data analysis was performed using questionnaires, interviews, and multivariate statistical methods. The findings indicated that the public perceived river restoration and greening projects as having a positive effect on their environmental experience and well-being related to water-based recreation. However, challenges such as the complex implementation procedures and technical requirements of these projects, combined with residents’ economic constraints and livelihood priorities limited the effectiveness of river conservation efforts and hindered the public’s positive perception of the recreational environment and well-being. To address these issues, the government should establish a river conservation incentive program that publicly recognizes individuals or enterprises successfully implementing environmental conservation measures, enhances advocacy efforts, and encourages active participation in conservation activities. These would help overcome current policy challenges and enhance the public’s positive experience and well-being related to river-based recreational activities.