The diversity of policy goal is determined by grain's particularity and complexity, at the course of market-oriented reform, grain policy aspires after the economic efficiency and equity for the goal of grain policy in China, at the same time food security and increasing income are made up of the primary contents. However, existing imperfect market system and impractical macroscopic control, all traditional grain marketing system provides the path dependence for the many-faceted targets of grain policy, so this process is far-flung institutional change. Along with developing economy and deepening reform, in the different economic circumstances and stages, the emphasis of grain targets is as well not alike, perhaps this is the key to comprehend the institutional change of China. The efficiency of institutional change lies on the coupling extent of market mechanism and macro-policy, therefore how to reduce the cost of institutional change, how to shorten the duration of institutional innovation, and how to build the effective pattern of the grain market-oriented reform, and so forth, these issues' essential rests with whether the economic main body have impetus to stand by the institutional arrangement according to government thought at the given seedtime.This thesis examines the efficient institutional arrangement for constructing and improving grain market mechanism on the basis of analyzing the effects on the patterns of grain policies in different periods. This thesis is divided into four parts and twelve chapters. The first part is a preface, which briefly introduces the background and objectives, trends, methods, scope, technical route and innovation of this thesis. The second part includes five chapters that provide a comprehensive assessment of China's grain market operation using modern econometric measures. The impact of grain balance, quota price, market price, transaction cost, domestic trade and international trade are examined. The thesis's third part includes three chapters. Chapter 6 comprehensively reviews the institutional change of grain marketing system. Then, chapter 7 analyzes the inducing factor of institutional change. At last, chapter 8 makes comments on grain policies of different periods. Based on the researching conclusion of the second and third parts, the farmers' grain supply response and rational behavior decision, the grain theory of different kinds of grain market, the integration of the market and the policy are provided in the last part of the thesis. Chapter 12 puts forward the ideal proposals and the difficulty of design grain policy. In the end, author presents the conclusion of this thesis and puts forward some theoretical reference and policy recommendation for the grain market-oriented reform in China.