Abstract: The construction of a contemporary Chinese discourse in literary theory constitutes an important sign in heightening the cultural self-confidence of our nation. In order to realize this goal, we need to probe respectively and to make efforts collectively in three aspects, i.e., the modernization of the traditional literary theory, the localization of the foreign literary theory, and the rationalization of the practical experience of Chinese new literature movement itself in the past hundred years, in order to put forward a new one in the synthetic operation. The fundamental orientation should be setting foot on the current situation, relying on tradition, and facing the world. The construction in this way is to have a stable pillar and a prospect in development.