Although the Compilation of Words (Yu Lin) by Pei Qi marked the beginning of ”Words and Deeds” novels, it had long been lost. One can only get a general picture of this book from fragments found in quotations and Chinese classical encyclopedia. Ma Guo Han of Qi Dynasty compiled two volumes of Yu Lin to remedy this problem. Lu Xun of the Republic collected even more diligently, with the results surpassed his predecessors. Although the accomplishments of these two scholars are outstanding, there were still questions that they did not resolve. Furthermore, there are several versions of the collected edition with real and fake material already in wide circulation and misleading the researchers. Let alone the fact that these previous scholars had no access to the recently discovered materials. Therefore, it is necessary to authenticate the material in these collected editions and gather additional fragments of Yu Lin. This paper not only authenticated the recovered fragments and deleted the false items in the collected editions, but also used Dunhuang classical encyclopedia to supplement items missed by previous scholars, in order to have a comprehensive investigation on the contents of this book. After the fragments had been authenticated, the implication of this book was then investigated. It was known that Yu Lin was only the records of self-conscious reflections of a few core members in an organization of celebrated scholars. It did not describe a complete social style of that time. As for those who were excluded from this organization, they could only unilaterally accept the viewpoints of those core members, being unable to change such a cultural state. This was the basic cognition of the author while writing Yu Lin. It was also the model of thinking for the literary style of the ”Words and Deeds” novels of the Six Dynasties.