Abstract: Since the founding of the People's Republic of China in 1949, China's sports public service financial system has experienced four stages: unified revenue and expenditure system, contract system, tax-sharing and public financial system, and modern financial system. The logical main line running through the stages is to promote the unity of financial and administrative power, adhere to the pattern of gradual reform and the people-centered philosophy of development while taking the construction of the rule of law as an important guarantee. In the future the new development theory should be adhered to building an innovative financial system, promoting the equalization of sports public services to achieve a shared financial system, strengthening the performance management of financial expenditure of sports public service. Also the legal system should be improved to achieve a financial system ruled by law.