Conventional education big data management is faced with security risks such as privacy data leakage, questionable data credibility, and unauthorized access. To avoid the above risks, a novel type of education big data security management and privacy protection method, Algorithm for security management and privacy protection of education big data based on smart contracts (ASPES), is proposed. It integrates an improved key splitting and sharing algorithm based on the secret sharing of Shamir, a hybrid encryption algorithm based on SM2-SHA256-AES, and a smart contract management algorithm based on hierarchical data access control. Experiments are conduced on the real dataset of MOOCCube and the results indicate that the execution efficiency and security of ASPES are significantly improved when compared with the state-of-the-art methods, which can effectively store and manage education big data and realize the reasonable distribution of educational resources. By embedding smart contracts into the blockchain and inputting operations like data reading and writing into the blockchain, ASPES can optimize the management path, improve management efficiency, ensure the fairness of education, and considerably improve the quality of education.