As newspapers’ advertisement operation and management in the Republic of China was prospering, correspondingly it was booming in its theoretical research. However, these research findings have been ignored by current journalism circle and the press, and consequently it is being mentioned but vaguely for a long time. The essay attempts to make a systematic study on these research findings from the following aspects: dialectic awareness of function of newspapers’ advertisement, in-depth study on “advertisement-oriented” conception, illustration of the relationship between advertisement, circulation and news interviewing & writing, research on communicating effect of newspapers’ advertisement.