Abstract: This paper intends to estimate the potential impact of climate change on Taiwan’s agricultural sector. Yield response regression models are used to investigate the climate change’s impact on 60 crops. A price-endogenous mathematical programming model is then used to simulate the welfare impacts of yield changes under various climate change scenarios. Results suggest that both warming and climate variations have a significant but non-monotonic impact on crop yields. Society as a whole would not suffer from warming, but a precipitation increase may be devastating to farmers.