Based on the data of China"s Rural Revitalization Survey (CRRS) in 2020, this paper examines the impact, mechanism and heterogeneity of agricultural production trusteeship on farmers" common prosperity from the perspectives of household income and happiness. It is found that agricultural production trusteeship has a positive effect on the realization of common prosperity of farmers, and the results are still robust considering the endogenous problem. Heterogeneity analysis showed that the promoting effect of agricultural production trusteeship on the common prosperity of farmers in the high-income group was stronger than that in the low-income group. It has a significant promoting effect on the common prosperity of farmers in the high human capital group, but has no significant effect on the low human capital group. It has a significant positive impact on the common prosperity of small households, but has no significant impact on large-scale households, and plays a distributive effect to promote "sharing". According to the mechanism test, the production trusteeship can improve the income level of farmers mainly by improving crop yield, reducing agricultural production cost, expanding the scale of arable land operation and promoting non-agricultural employment transfer, and improve the family happiness by improving farmers" expectation of future income and their freedom of choice and action. The double increase of income and happiness promotes the realization of common prosperity of farmers. The conclusion of this study has important theoretical and practical significance for the smooth implementation of the trusteeship policy of agricultural production and the continuous improvement of the common prosperity of farmers. It also provides new evidence for the research on the relationship between the trusteeship of agricultural production and the common prosperity of farmers.