With increased environmental awareness, companies engage in more environmental protection activities. Green procurement is a key process in green supply chain management. Based on previous literature, this study divides green procurement into two dimensions: product-based green procurement and process-based green procurement. The purpose of this research is to explore the relationship between green procurement and firm performance and stakeholders’ satisfaction. The research object is Taiwan's listed manufacturing companies from 2016 to 2018. The results indicate that product-based green procurement does not improve the firm performance, but it has a positive effect on customer satisfaction. Its effect on supplier satisfaction is not significant. Process-based green procurement improves the company's financial performance and customer satisfaction, but its effect on market performance and supplier satisfaction are not significant.