By reviewing the relative literature on the history of time-space theory, this paper discusses four mainstream time-space theories: “world view” in ancient China, absolute and relative time-space theories in the western physics, Marx and Engles’ time-space theories and media time-space theory. It lists three characteristics of new media time-space theory: swift, flat and tiny, and explores its influence on society from the perspectives of annihilation of time-space by speed, the physical space expelled by the social time-space, mass interaction and the history and future of time-space.