Abstract: Rural revitalization is essentially a modernization issue, and the rural modernization in late-developing countries is a “ultimate issue” of world modernization. On the issue of rural modernization, three main cognitive paradigms have been formed in the academic history, such as the theory of element structure change, the theory of man-land relationship, and the theory of institutional structure interaction. Each country has its own “institutional stock”, so it will inevitably face a series of specific political economy problems in the modernization process. To understand the political economy logic of rural modernization in China, it is necessary to clarify the general logic, threshold conditions, and political economy constraints of rural modernization on the basis of clarifying relevant theoretical understanding. In the process of China’s rural modernization, three issues such as farmers’ form, land system and rural governance are of fundamental significance.