The study of axiology appeared in China in the discussion of practice standard at the end of the twentieth century. The multivalues and conflicts formed in the market economy have been the profound social background for the everlasting study of axiology. The focus of the study on axiology by Chinese scholars for the past twenty years has moved from the basic theory of axiology to the evaluated theory and back to the theory of value concepts. The study of axiology has promoted the turning of axiology in ontology and in philosophical epistemology.