The research on employee stock ownership plan in China started relatively late. It has been developed for more than 30 years and is still in the exploratory stage. The employee stock ownership plan redistributes the operating income of the enterprise between shareholders and employees, reflects the position of the interests of the workers in the development, so that the development achievements can be shared with the workers. However, the implementation of the employee stock ownership plan is conducive to alleviating the current situation that the state-owned enterprises have a dominant share and a single ownership structure. This paper first introduces the research background, then expounds the meaning, classification and characteristics of the implementation of employee stock ownership plan by state-owned enterprises, and finally analyzes the motivation and effect of the implementation of employee stock ownership plan by state-owned enterprises. It can promote the theoretical research on the implementation of the employee stock ownership plan of state-owned enterprises, so as to provide some reference and decision-making for them to implement the employee stock ownership plan and improve various capabilities.