The purpose of this study is to analyze the changes of rural development policies in the last 20 years by analyzing the budget distribution by policy objectives and support factors. 1997, 2000, 2005, 2010 and 2015 Guidelines of Agricultural, Food and Rural Development Project were analyzed to identify the budget distribution. The objectives of rural development policy were classified into 5 fields and 27 detailed factors such as production environment, distribution environment, technology and human resources, living environment, income support. The support factors of rural development policy were classified into 3 fields and 17 detailed factors. The budget of rural development policy has greatly increased from 952,297 million won in 1997 to 4,869,174 million won in 2010 and 3,905,340 million won in 2015. In budget distribution by policy objectives, the policy was mainly focused on management funding in 1997, 2000 and in the 2000s, it was confirmed that investment in the improvement of the living environment was rapidly taking place. In budget distribution by policy support factors, it was found that living environment and welfare environment support factor in rural area occupied the largest portion and welfare, tourism, and living environment has been rapidly increasing since 2005.