As a high-quality plant protein and a healthy source of edible vegetable oil, soybeans have been dependent on foreign sources as high as 80% in recent years, which is a severe challenge to national food and oil safety. How to discover high-quality resources to replace imported soybeans under the premise of ensuring the red line of arable land has become a strategic choice to cope with the current difficulties and seize the commanding heights of the future industry.Cyperus esculentus is a new economic oil crop with high-quality and high-yield that integrates grain, oil, animal husbandry and feed. It is of political, economic, and ecological significance to promote the cultivation of Cyperus esculentus in suitable areas of China. Based on literature research, experts in related disciplines (agriculture, machinery, breeding, grain and oil, agricultural economics, etc.)were organized to organize extensive discussions on the development of the Cyperus esculentus industry, and go deep into the relevant units of the industry chain (academic institutes, planting and processing enterprise，and planting farmers). Extensive research on different links of the entire industry chain (breeding, planting, management, harvesting, polishing, drying, storage, processing, market, etc.)has conducted, and the first-hand data and information of Cyperus esculentus industry in China was obtained. Aiming at the current situation of my country's Cyperus esculentus industry, the existing prominent contradictions and problems, the SWOT analysis method was used to systematically analyze the opportunities and challenges of industrial development, and the countermeasures and suggestions for the future development of the Cyperus esculentus industry are given.