Abstract: To a certain extent, the rapid development of Chinese sport industry is impelled by the government's industrial policies, which owe a great deal to the fiscal policies. By using textual analysis, grey relational analysis (GRA) , data envelopment analysis (DEA) and other research methods, this paper analyzes the policy commitments, policy actions and policy effects of China's fiscal policy supporting the development of sport industry. It can be found, from the text of sport industry development policies, the role positioning and action course that the government adopts in sport industry development, the support that the government provided for sport industry from the fiscal investment put in by the government, and the policy effect brought about by fiscal support for sport industry development which can be objectively assessed from the effect of the government's fiscal investment. It is found from the study that the commitment of the government's fiscal support for the sport industry development policy has been continuously expanded, that the fiscal support has been gradually increased, and that the policy effect and sports expenditure efficiency have been preliminarily exhibited. However, there are also certain differences in the categories of policy effect projects and the future fiscal support calls for the orientation of priority.