Abstract: Climate change will cause climate factors such as temperature and precipitation to changes, and it will also cause the intensity and frequency of extreme weather events to increase.Therefore, climate change will cause a certain impact on the livelihoods of farmers. In this paper, we take Henan province as an example, and analyze feature of rainfall and temperature from 1955 to 2012 by using the wavelet model. The results showed: the average precipitation and the average temperature showed a constant fluctuation in the nearly 58 years; and After entering the 21st Century, average precipitation has been reduced in the fluctuations and average temperature has been rising in the fluctuations. Through analysis, we found that these changes will have a negative impact on farmers’ livelihoods ( natural?capital,?financial capital, physical capital, human capital and social capital ). As a result, farmers and the government should actively face this phenomenon, take sustainable development strategy and effective measures to cope with the adverse effects of climate change.