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On the basis of ERBR (existing residential building retrofit) work in the 11th five-year period, energy efficiency retrofits for old residential buildings have been further promoted in northern regions of China during the 12th five-year period. ERBR projects are capable of not only achieving energy conservation and emissions reductions but also providing warmer rooms for residents during cold winters. Therefore, this project should be continued in northern regions of China following a long-term management mode. With the aim of exploring methods and mechanisms for the evaluation of the retrofit effect, an evaluation method was established with the application of the multi-level expert evaluation method. The evaluation indexes cover the aspects of policy mechanisms, financing modes and technical measures. A rewards and punishment mechanism according to the evaluation system was also suggested. Such an evaluation system can be used as a valuable reference for future implementation of energy efficiency retrofit work.