With the development of institutional theory and entrepreneurial practice， new agendas emerge in the field of new venture legitimacy. Based on the framework of legitimacy， it reviewed relevant literature around five core issues including the concept of legitimacy， the influence of legitimacy， legitimacy judgment， legitimacy criterion， and legitimacy change. It constructed a classification framework based on two dimensions of historical contingency （static-dynamic） and judgment differentiation （homogeneous-heterogeneous）， and then analyzed different approaches and orientations of existing research， and points out that the development of research on the legitimacy of new ventures follows the trajectory from “static-homogeneous” to “dynamic-heterogeneous”. By revealing limitations of existing research， it suggests that future studies could further explore the multiplicity and dynamics of legitimacy thresholds， the heterogeneity and dynamics of legitimacy criteria， and media presentation as criterion for legitimacy judgment as well as tool for legitimacy acquisition. It also provides suggestions on comparative institutional analysis and studying the new venture legitimacy in China.