Without moral connotation, there would be no emergence and development of cooperatives. Moral connotation has always been the essential feature of cooperatives and has not changed with the change of cooperatives’ models. In recent years, the main reason for alienation and theoretical divergence in the development of farmer cooperatives in China is that the moral connotations of cooperatives have been obscured. Restating the moral connotation is necessary for the development and theoretical research of farmer cooperatives in China. The necessity is to reach a consensus in theory, not deviate in essence in practice, form the development for the benefit of the poor in function, and realize the modernization of agriculture and farmers and the value cohesion of rural community in goal. The enlightenment of restating the moral connotation to the development of farmers’ cooperatives in China is to promote the healthy and sustainable development of farmers’ cooperatives based on morality, use the organization as a lever to make farmers’ cooperatives a carrier of rural revitalization, and make farmers’ cooperatives the new glue of rural community with value as the core. The innovation lies in revealing the hidden moral meaning of cooperatives, laying a foundation for the theoretical study of farmers’ cooperatives, and pointing out the direction for the practical exploration of Chinese farmers’ cooperatives.