This paper precisely explores the structure and characteristics of college students’ healthy human capital and its influencing factors. It aims to enhance students’ positive and healthy mindset and promote optimism in life and learning. A solid analytical framework is constructed by sorting out the ordered multicategorical logistic regression model and parameter estimation methods and the application steps of the propensity score matching model. College students from ten colleges and universities in Hunan Province were selected as research subjects, and a questionnaire was designed to assess their healthy human capital. The specific factors affecting college students’ healthy human capital accumulation were analyzed in depth through the probability density analysis of propensity score matching, standard support hypothesis testing, and the parallel line test and regression results of the ordered multicategorical regression model. The findings show that the curves of the experimental and control groups after propensity score matching almost overlap in the [0.2,0.4] interval, indicating the method’s validity. A more important finding is that the number of college students with poor self-assessed physical health is 8.063 times higher than that of college students with self-assessed mental health as good, which emphasizes the significant impact of mental health on healthy human capital. Therefore, to effectively improve the health human capital of college students, students, families and universities must form a linkage mechanism and work together to cultivate college students’ health awareness.