This paper presents five-element theory in Zheng-Meng Zhu by Fu-Zhi Wang (Chuanshan, 1619–1692) and its contemporary meaning. This study was conducted primarily using conceptual clarification complemented by contextual inquiry. First, the interpretation approach of the Taichi diagram of ChuanshanHuitung on the five-element theory of Zheng-Meng was discussed. The Taichi diagram was used to explicate the Qi-ontology and cosmologyon which five-element theory was based level by level and to clarify the effective precinct of five-element theory. Second, the development of Zhangzai's five-element theory in Zhangzi Zheng-Meng Zhu was examined, and the approach that Chaunshan adopted to establish the Qi-ontology was indicated. The Zheng-Meng five-element theory was developed on the basis of subtopics such as "the sequence of the five elements", "comparison of the five elements with the eight trigrams", and "Zhongyang-Tu-ji-wang-Shuo". Finally, the past was used to reflect on the present. The works of Chuanshan were used to examine contemporary science and technological knowledge, thereby demonstrating the study attitudes that Confucians should possess.