Abstract: To begin with the paper,after the Marx's theory of Labor Value had been analyzed concisely,the conclusion was drawn:although Labor is the only source of creation of value,the formation of value is determined by many factors.Then it was discussed that the distribution according to work is the main body of distribution form under the circumstances of socialist market economy,in which the "work" should include wider means.Once more the relation of theory of labor value and distribution acording to factors was discussed,the basis of theory of distribution according to factors during the socialist primary stage was analyzed,that is,many kind of systems of ownership exist at same time.At last,the relation between the distribution according to work and distribution according to factors and the fair and efficiency was discussed.