There are two totally different versions of The Great Wave,the last work of Li Jieren's trilogy of"The Great River Novel".The older version of The Great Wave,published in 1937 by Zhonghua Book Company,has a relatively complete story.The new version of The Great Wave was published as a series of works by The Writer's Publishing House from 1958 to 1963,but it was not completed before the death of the author.The different characteristics of two versions represent differentiated value orientations.The old version shows the natural instincts of man and the street life with revolutionary history as the background and the new version focuses on depicting a magnificent revolutionary history with the"customs and local conditions"as a foil.By comparing the two versions of The Great Wave,the paper holds that Li Jieren clearly put forward the concept of"rewriting"instead of adjusting and deleting the words and paragraphs.The study and exploration of the rewriting process of The Great Wave can better reflect the comprehensive character of version criticism.