According to the text of Chuang Tzu, this paper aims to reconstruct the aesthetic thought of Chuang Tzu and to justify that a theory of beauty and a completedly-developed conception of aesthetics are involved in the thought of Chuang Tzu. Especially, this paper expounds Chuang Tzu's theory of grand-beauty, and shows Chuang Tzu's "Chin-chieh of art" is a kind of emanation of naive-human-nature, and a kind of reflection of the human-character.