To explore the effect of targeted poverty alleviation policies in Guangdong Province from the perspective of causal inference, this paper conducts quantitative research based on panel data of poverty-stricken counties in Guangdong Province from 2013 to 2020. Specifically, breakpoint regression is used to analyze the initial effect of the policy, instrumental variables are used to analyze the long-term effect of the policy implementation, and finally, the generalized comprehensive control method is used to make a comparative study. The results show that: (1) The targeted poverty alleviation policy in Guangdong Province has a remarkable effect on poverty reduction; (2) The effect of targeted poverty alleviation policy is still remarkable by comparing the implemented policy with the unimplemented one in Guangdong Province; (3) The improvement of market economic activity can effectively promote the increase of farmers' personal net income in poor areas of Guangdong Province.