Abstract: It is of great significance to explore the path of financial poverty alleviation and to clarify the differences of financial poverty alleviation path, which help in summarizing the experience of poverty alleviation, improving the efficiency and promoting the sustainable development of financial poverty alleviation. Taking counties in Shaanxi province as an example, this paper measures the financial development and poverty by using multidimensional indicators, and analyzes the relationship between financial development and county poverty alleviation by the Structural Equation Model. Besides, it studies the differences of financial poverty alleviation between poor counties and non-poor counties. The results show that the development of county finance can not only alleviate poverty directly, but also can influence poverty alleviation indirectly by promoting economic development and adjusting income distribution. However, the alleviation effect is different between poor and non-poor counties. The direct alleviation effect is stronger in non-poor counties, while the direct and indirect function contribute are equal to the financial poverty alleviation in the poor county.