Master Juzan is a famous modern Chinese monk who has devoted all his life to following Master Taixu in committing to the innovation of Buddhism. His innovative 〞new Buddhism〞 inherits the thoughts of Master Taixu's Humanistic Buddhism, and has exerted tremendous influence on the structure of Chinese Buddhism since 1949. After a brief introduction on Master Juzan's experiences for the reform of Chinese Buddhism, this paper describes and analyzes the theory and practice of 〞new Buddhism〞 in China since 1949. Recognizing that Juzan's theory and practice of 〞new Buddhism〞, this paper explores important historical topics such as 〞how can Buddhism fit in with modern society〞 and 〞how can Buddhism fit in with the Chinese socialist society.〞