Abstract: Under the analysis of actuality and feasibility of innovation of the rural financial cooperative organization(RFCO),we could bring up some reasonable measures and advices, which could advance the agricultural modernization in China.By adopting the method of logic analysis and positivist analysis,the article carries out a research on innovation of RFCO, and argues about the necessity and feasibility of innovation.On the basis of that,the article puts forward that the innovation of RFCO should stress the legal protection and innovate the business idea,the administrative structure,the financial product and the financial service.