News awarding is the mechanism of production and distribution of honor in journalism. Every honor has certain community boundary because of its distinctive collective consciousness including status, identifcation, respect, etc., so different honors necessarily form different honor worlds. This article analyzes the current situation of various honor worlds in Chinese journalism and differential discursive practices of “reward and punish” about “China News Award”. On this basis, the authors explore the effect of separation, restriction and rejection acted on the market and professional news community by the offcial mechanism of honor production. In addition, this effect deepens the dilemma of value alienation, brain drain and self-depletion in journalism. The reforming is supposed to expand respect and solidarity of the journalism professional community and establish an honor system based on “recognition”.