The reform of collective forest property has increased the farmers' income, and brought new development to forestry. On the basis of expatiating the conception of collective forest property and related management system, this paper introduced in detail the course, main ways, and effects of the reform in Liaoning Province, analyzed the research progress of the reform and existing problems, and made appraisement and exceptions to the reform of collective forest property in Liaoning Province, aimed to give comments to the development and orientation of forward reform. In this province, the reform of collective forest property had the characteristics of classified reform, different reform types in different areas, and the main and affiliated reform being carried out at the same time. By the end of 2009, the main task had turned into affiliated reform. In the future, the reform should be focused on the optimal forestry management model to improve the forest economic, ecological, and social benefits, and using multi-disciplinary methods to strengthen the researches on the relationships between forestry management and forest ecological functions to provide scientific bases for the reform of collective forest property in Liaoning Province.