Abstract: The context of Russian formalism's spread and acceptance is post-modern since 1990s. On one hand, Russian formalism is not favored by Chinese scholars because of the conflict between it and post-modernism; on the other hand, its value is rediscovered because of its function of revision to Cultural Study. This spread and acceptance process implys that Chinese literary theory and criti-cism is transforming from modernism into post-modernism and is toward mature.