As the theoretical basis of socialist political economy with Chinese characteristics,Marxist political economy consists of its value system,the production price system,and accumulation and expansion of reproduction,providing a unique interpretation of such issues as production efficiency,distribution relationship,resource allocation,economic growth and long-term development trends. It is of great theoretical value for understanding capitalism and developing socialism. As a Sinicized and modernized Marxist political economy,the socialist political economy with Chinese characteristics uses the Marxist methodology of historical materialism and dialectical materialism to explore and innovate in adjusting production relations and promoting the development of productive forces in view of the practical problems faced by China since the reform and opening up;in doing so,it adheres to the fundamental principle of putting people first,and follows the logic of the original theory,stage theory and countermeasure theory. Therefore,to construct the independent theoretical system of socialist political economy with Chinese characteristics,we should first analyze the main social contradictions,examine the external development environment,and clarify the tasks and objectives of different development stages of Chinese socialism. On this basis,we determine our basic economic system and use the innovated model of Marxist political economy to guild the operation and development mechanism of socialist market economy. Then,we should further expand the basic model of socialism with Chinese characteristics from the dimensions of industrial economy,space economy,open economy and resource environment economy;finally,we should adjust production relations through specific policies and measures for economic reform and economic governance. Socialist political economy with Chinese characteristics is the application of economics in China ’s specific conditions. It will keep pace with the times,and its theoretical system should also be a set of methods to study economic problems and a paradigm to resolve economic problems. Based on the above discussion,this paper argues that the independent theoretical system of socialist political economy with Chinese characteristics should consist of ten components,namely,methodology,development stage,economic system,economic operation,economic development,industrial economy,space economy,open economy,resource environment economy,economic reform and economic governance. On the one hand,the theoretical results that have been achieved can be systematized into a specific part of the above theoretical system;on the other hand,we can continue our future innovation according to the framework of this theoretical system.