Currently, the subjective status of collective land property right in rural China is not obvious, the collective land property right is easily weakened in reality and needs to be reformed and institutionally innovated under the premise of not changing rural land collective ownership. Under current institution of China, rural collective land property right is not a real property right in real complete meaning, the rebuilding of its property right by civil law is necessary in order to remove its malfunction such as subjective default and absence of right and function and so on. Rural land property right should fit for the logic and value concept of private law, rural collective should be regarded as independent and autonomous civil subject, i.e. a person in private law, its right implementation should embody private law autonomy principle but should try to languish public law and exclude the interference of administrative right. China should integrate current three kinds of collective forms into one peasant collective, clearly define peasant collective as a corporation in civil law, should reform peasant collective into a corporation by using stock cooperation system and construct corporation management structure for peasant collective.