Yingluck, who was ousted in a military coup in 2014, was sentenced in absentia in 2017 to five years in jail for criminal negligence over the same scandal.
The finance ministry originally ordered Yingluck to pay 35.7 billion baht (nearly $1.1 billion) in compensation.
The Central Administrative Court then revoked the order, but the ministry appealed, leading to Thursday’s ruling by the higher court.
The court said on Thursday that Yingluck had failed to respond to warnings by anti-graft bodies pointing to corruption in the rice scheme.
Her negligence caused losses to the finance ministry and she should pay damages of 10.028 billion baht ($300 million), the court said.
Norawit Lalaeng, Yingluck’s lawyer, said they will discuss whether to request a new hearing.
Yingluck fled Thailand shortly before her jail sentence in 2017 and has lived in exile since.
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