The ontology of Wang Chuan Shan's philosophy is the theory of Tao and Qi which is in central in his philosophy system. First, this article discusses origin of the theory of Tao and Qi, following closely elaborate the concept of Tao and Qi. Main part of this article is to elaborate several central propositions, such as ”0Tao lies in Qi”, ”there is only Qi in the world”, ”Qi is before Tao”. This article briefly elaborates conception of history relating to the theory of Tao and Qi. The basic concept of the conception of history is ”searching Tao by Qi”. Finally, this article makes a synthetically remark on the theory of Tao and Qi and elucidates the historical status of this theory in Chinese philosophy. By elaborating about this theory, this article points out that the theory has criticized Song-Ming Neo-Confucianism and its theory factor's origin, however, actually originated in ”the Book of Change”.