In the modern times of China, the use of the concept of “myth” has a quite special cultural background. In Ming Dynasty, the word had appeared clearly, and it was first used in Tang Xianzus Records of Yu Chu. And in the modern times of China, the tread of thought of nationalism was widespread and fastchanging. Chen Jitong, Liang Qichao, Jiang Guanyun, Liu Shipei, Zhang Taiyan, Sun Yuxiu and some other scholars were concerned about the fate of the nation, their research of myth uniting historical culture and social reality together from different perspectives. They retold the national culture tradition with the “Three Wise Kings and Five August Emperors” as its important sign, including comparative researching about the myth of deluge in different nations. Furthermore, they initiatively united the research of myth and the construction of national culture together, and this is the cultural selection and expression which with the reconstruction of the old history, ie., “New History”, as its important content.