Abstract: The new content of the land management right in the 2019, Rural Land Contracting Law is an important measure for the“separation of the three powers”from the policy level to the legal level. The land management right stipulated in the new law has its strong points and shortcomings as well. At present, the connotation and nature of the land management right are not stipulated clearly in the law, the circulatory registration system and imperfect mortgage implementation mechanism have seriously affected the implementation of the land reform and hindered the development of large-scale operation of rural land. Based on the policy background of“separation of three rights”and the statistics of practical data, this paper evaluates the provisions of the Rural Land Contracting Law on the land management right, explores the shortcomings of the system of land management right. It puts forward that it is necessary to clarify that the land management right is a right of usufructuary right in legislation, and the circulation should adopt registration validity doctrine and other suggestions.