Our study aimed to estimate the economic burden of hearing loss. Using data from the China Health and Retirement Longitudinal Study (CHARLS), hearing loss attributed fraction based on the rate of hearing loss was derived. Then, we calculated the direct and indirect economic burden of hearing loss. The base year for the monetary amounts shown was 2015. For middle-aged and older people aged 45+ in China, the economic burden of hearing loss in 2011, 2013, and 2015 was US$6.13 billion, US$7.39 billion, and US$8.50 billion, respectively. The direct economic burden of hearing loss accounted for 46.99%–50.24%, the indirect economic burden of premature death accounted for 49.41%–52.70%, and the indirect economic burden of productivity loss accounted for the least proportion of 0.31%–0.35%. Immediate measures such as hearing loss prevention, hearing screening, and hearing aid wearing should be taken, so as to reduce the economic burden of hearing loss.