Although some Chinese advertisers explored the theory and practice of modern advertising in the fields of foreign trade and commercial art during the period from the 1950s to the 1970s, and there appeared some texts introducing window dressing, trademark packaging, research and even “marketing science” in foreign trade and commercial art magazines, such as Foreign Trade and Decoration, this introductory research was spontaneously carried out for knowledge popularization and confined to individual sectors of the foreign trade system. Most of the research was a combined translation and introduction to Western advertising practices rather than intentional research into the development of the academic theory. Limited by conditions at that time, there was not a single academic book or textbook published on Advertising. The large-scale academic research on and construction of advertising science began after the reform and opening-up in China. Following the Third Plenary Session of the Eleventh CPC Central Committee, advertising, once regarded as a devastating capitalist flood, began to re-enter the daily lives of Chinese people in 1979. After the reform and opening-up of China, Chinese advertising studies, which had once hit glorious heights in the first half of the twentieth century, quickly recovered from their desolation and achieved remarkably in 40 years. In this chapter, we will review and reflect on the 40-year development of Chinese advertising academic studies with an academic-historical approach.