在日本統治期臺灣文學的發展過程中，創刊於1933年7月，僅發行三期的《福爾摩沙》具有指標性的地位。與其他多攻讀法律、醫學之留學生相比，《福爾摩沙》同人為文學、藝術領域之學生，志在文藝創造使其成為臺灣知識份子中相當特殊的一群。《福爾摩沙》同人因承繼領導臺灣民族社會運動之留日青年傳統，以及能親炙日本普羅文學運動組織，因而有志於建設臺灣文藝之同時代臺灣青年中，獲得令人無法忽視的發言權。而其於東京活動的1933-1934前後數年間，正為日本普羅文學運動由極盛至崩壞，日本文壇之「文藝」因此得以於「政治」中解放的時期；由《福爾摩沙》內容中，亦反映臺灣知識青年對「政治」與「文藝」關係的思索。《福爾摩沙》雖僅發行三期即停刊，然其所開拓出之「文藝」空間以及對日文的大量運用，已為臺灣文學發展進程中宣示了新時代的來臨。

During the developing process of The Literature In Colonial Taiwan, begun publication in July 1933, only issued three issues' "FORMOSA" has extremely important status. Comparing with other students studying abroad who more majored in law or medical science, the fraternity of "FORMOSA" are students in the literary domain aimed for creation of literature which made them becoming a quite special group in Taiwanese intellectuals. Because the fraternity of "FORMOSA" inherited the tradition that who studied abroad in Japan is the leader of Taiwanese nation society movement, and can contact the organization of Proletarier Literature movement of Japan directly, therefore they earned a voice that can't be ignored among the contemporary Taiwanese youth who aimed for constructing literature and art of Taiwan. Because the years they worked in Tokyo around 1933 and 1934 just as the period that Proletarier Literature movement of Japans was from heyday to collapse, therefore the 'literature' of the Japanese literary circles can be liberated in 'politics' way; The content of "FORMOSA" also reflected the Taiwanese intellectuals speculated about the relation between 'politics' and 'literature'. Even though "FORMOSA" just issued three issues and then ceased publication, the space of 'literature' it opened up and made use of Japanese largely which have already announced a coming new era of the developing process of Taiwanese Literature.