The　efficiency　of　green　credit　in　commercial　banks　is　important　for　promoting　green　economic　development.　But　seldom　studies　have　investigated　the　efficiency　evaluation　of　banking　green　credit　activities.　To　fill　this　gap,　this　paper　proposes　a　model　for　assessing　the　efficiency　of　green　credit　and　further　investigates　the　factors　that　potentially　affect　the　efficiencies.　The　evaluation　model　for　green　credit　efficiency　is　built　through　a　multi-period　leader-follower　framework　by　innovatively　considering　green　credit　as　an　inherent　input-output　indicator　with　preference.　The　results　demonstrate　that　the　green　credit　efficiency　of　the　Chinese　commercial　banks　in　the　profit　earning　stage　generally　surpasses　that　in　the　deposit　conversion　stage.　Throughout　the　multi-period　analysis,　the　majority　of　banks,　especially　those　that　are　state-owned,　have　improved　their　deposit　conversion　efficiency　from　2017　to　2021.　The　efficiency　in　the　profit　earning　stage　for　all　banks　significantly　declined　due　to　the　impact　of　COVID-19.　Bank　size,　asset　quality,　and　macroeconomic　conditions　have　significant　influences　on　green　credit　efficiency.　However,　their　influences　vary　heterogeneously　across　different　stages　and　types　of　banks.