Yang Wang-li (1127-1206) is one of the important poets in Southern Song Dynasty. His theories of poetry play a vital role in serving as a link between past and future in the poetry history. The purpose of the research paper is to analyze and discuss the content of Yang’s theories of poetry so as to present their values. In other words, based on Yang's poetry-learning process, this research paper consists of two parts: theories of poetry creating and theories of poetry appreciation. According to Yang's viewpoints about poetry, poets try to touch people's hearts initially. Then, they write down emotional poems by unusual inspirations in the creating process. In sum, Yang's theories show that poetry-writing focuses on touching and interesting people and that poetry-creators are lively in their minds, escape all limitations, and pursue unique creativity.