Abstract: Teachers’ policy satisfaction is essential to implement teacher education policy. However, research on how teachers’ policy satisfaction impacts teacher education policy implementation is limited. Thus, this study aims to investigate the factors that influence teachers’ policy satisfaction on teacher exchange rotation in China. A total of 14,859 (11,206 female, accounting for 75.42%) questionnaires were collected and analyzed. Principal–agent theory was the theoretical underpinning applied in this study. It was found that policy satisfaction is significantly positively affected by policy implementation, with an influence coefficient of 0.942, and policy implementation was significantly positively influenced by understanding policy publicity and policy effectiveness, with influence coefficients of 0.028 and 0.921, respectively. The scientific policy design and its highly related policy implementation are important to improving teachers’ satisfaction with the rotation exchange policy. The article concludes with a discussion.