On the basis of literature review method, this thesis seeks to interpret new developments of third edition of Chinese Foreign Policy, and analyzes what effects this policy will exert on the peace process of Korean peninsula. The third edition of Chinese Foreign Policy demonstrates China’s commitments to weight diplomatic activities toward neighboring regions and countries of the peninsula. The peaceful process of the peninsula brings benefits to China’s diplomacy. China is ready to work with other major countries to promote such a peaceful state. Besides, efforts will be made to strengthen China’s connection with both DPRK and ROK on platforms such as the Belt and Road Initiative, and a community of shared future. China will play its significant role in promoting the peace process on Korean peninsula.