Rice serves as the core pillar industry of Hainan’s agriculture. Its high-quality development not only provides crucial support for ensuring regional food security but also acts as the core engine driving Hainan’s efforts to build itself into a strong province of tropical characteristical and high-efficiency agriculture, playing a significant leading and exemplary role in upgrading the quality of agriculture across the entire province. Based on the five core concepts encompassed by high-quality agricultural development—innovation-driven, green and sustainable, efficiency enhancement, industrial integration, and inclusive sharing—this paper systematically reviews the current development status of Hainan’s rice industry and employs the SWOT analysis method to conduct an in-depth examination from fourational strengths, weakness external opportunities, and practical threats. Building on this analysis, with the strategic orientation of “leveraging strengths, addressing weaknesses, seizing opportunities, and tacing challenges,” seven implementation paths are proposed to promote the high-quality development of Hainan’s rice industry: consolidating the variety foundation and deepening demonstration and exhibition; strengthening scientific and technological support to break through industrial bottlenecks; promoting ecologically efficient crop rotation and exploring green and sustainable pathways; upgrading service systems to enhance industrial efficiency; optimizing processing layouts and improving supply chain systems; constructing a brand matrix to facilitate the integration of the primary, secondary, and tertiary industries; and refining precision subsidy mechanisms and innovating policy chain support. The research findings can provide a scientific basis for strategic planning and policy formulation for the high-quality development of Hainan’s rice industry under the new circumstances.