“Lianjing huaqi” (Transforming primordial Jing to primordial Qi 煉精化) is the life -cultivating kongfu of Zhong liquan-Lü Dongbin inner alchemy school. Compared with Chinese Buddhism and Confucianism, such a kongfu is the distinguishing characteristic of inner alchemy. During all inner alchemists, Wu chongxu, born in late Ming dynasty, is the best one to distinctly explain the “lianjing huaqi” kongfu. The aim of this article is to trace the origin and to analyze the contents of “lianjing huaqi” thought of Wu chongxu. This article is divided into four sections. First section reviews the researches concerning Wu chongxu. Second section explores the source of Wu chongxu’s inner alchemy and “lianjing huaqi” thought. Third section firstly expounds the Wu chongxu’s inner alchemy thought, and then examines the concrete contents of Wu chongxu’s “lianjing huaqi” kongfu thought, in the order of the refinement of self (lianji 煉己), concentrating one’s spirit into Qi Cavity (qixue 穴), picking elixir (caiyao 採藥), storing elixir (fengyao 封藥) refining elixir (lianyao 煉藥) and stopping fire (zihuo 止火). The last section explores the characteristic, contribution and meaning of Wu chongxu’s “lianjing Huaqi” thought, and compares the inner alchemy kongfu with Buddhism and Confucianism.