diff --git a/src/wallet/rpcwallet.cpp b/src/wallet/rpcwallet.cpp
--- a/src/wallet/rpcwallet.cpp
+++ b/src/wallet/rpcwallet.cpp
@@ -3562,8 +3562,22 @@
     LOCK2(cs_main, pwallet->cs_wallet);
 
     Amount nAmount = AmountFromValue(request.params[0]);
+    CFeeRate tx_fee_rate(nAmount, 1000);
+    if (tx_fee_rate == CFeeRate()) {
+        // automatic selection
+    } else if (tx_fee_rate < ::minRelayTxFee) {
+        throw JSONRPCError(
+            RPC_INVALID_PARAMETER,
+            strprintf("txfee cannot be less than min relay tx fee (%s)",
+                      ::minRelayTxFee.ToString()));
+    } else if (tx_fee_rate < pwallet->m_min_fee) {
+        throw JSONRPCError(
+            RPC_INVALID_PARAMETER,
+            strprintf("txfee cannot be less than wallet min fee (%s)",
+                      pwallet->m_min_fee.ToString()));
+    }
 
-    pwallet->m_pay_tx_fee = CFeeRate(nAmount, 1000);
+    pwallet->m_pay_tx_fee = tx_fee_rate;
     return true;
 }
 
diff --git a/test/functional/rpc_estimatefee.py b/test/functional/rpc_estimatefee.py
--- a/test/functional/rpc_estimatefee.py
+++ b/test/functional/rpc_estimatefee.py
@@ -6,18 +6,19 @@
 from decimal import Decimal
 
 from test_framework.test_framework import BitcoinTestFramework
-from test_framework.util import assert_equal
+from test_framework.util import assert_equal, assert_raises_rpc_error
 
 
 class EstimateFeeTest(BitcoinTestFramework):
     def set_test_params(self):
         self.setup_clean_chain = True
-        self.num_nodes = 2
-        self.extra_args = [[], ["-minrelaytxfee=0.001"]]
+        self.num_nodes = 3
+        self.extra_args = [[], ["-minrelaytxfee=0.001"], ["-mintxfee=0.00002"]]
 
     def run_test(self):
         default_node = self.nodes[0]
         diff_relay_fee_node = self.nodes[1]
+        diff_tx_fee_node = self.nodes[2]
         for i in range(5):
             self.nodes[0].generate(1)
 
@@ -27,6 +28,12 @@
             # estimatefee may be different for nodes that set it in their config
             assert_equal(diff_relay_fee_node.estimatefee(), Decimal('0.001'))
 
+            # Check the reasonableness of settxfee
+            assert_raises_rpc_error(-8, "txfee cannot be less than min relay tx fee",
+                                    diff_tx_fee_node.settxfee, Decimal('0.000005'))
+            assert_raises_rpc_error(-8, "txfee cannot be less than wallet min fee",
+                                    diff_tx_fee_node.settxfee, Decimal('0.000015'))
+
 
 if __name__ == '__main__':
     EstimateFeeTest().main()