Abstract: This article introduces the development of the modern sports market system of China over the past 40 years of reform and opening up, examines the problems existing in practice, and puts forward the development path of modern sports market system. The research suggests that China's modern sports market system has gone through four stages: the budding of the sports market, the exploration and development of the sports market system, and the establishment of the modern sports market system. It has the characteristic of stage and continuity. However, there are still some problems in practice, such as the governance environment needs to be further improved, and the content system needs to be further optimized. The construction of China's modern sports market system needs to be examined in correctly handling the relationship between the government and the market. It is necessary to improve the diversified sports product market, stimulate the development potential of the sports consumption market, establish a complete and efficient sports factor market, enhance the vitality of the main body of the sports market, and improve the supervision system of the sports market.