Abstract: The compilation of Chinese literary history found its achievements as well as losses during the period of the Republic of China. Its main achievements involve the gradual improvement of the compilation conception, maturity and variety of compilation methods, objectivity in compilation, and emphasis on the choice of relevant materials. Its main losses include the irregularity of compiling styles, too much subjectivity, and bias in the compiling conceptions. As the pioneer of the compilation of Chinese literary history, its achievements and losses can be taken as both reference and lesson. And it also laid a foundation for the better development of such compilation.