Abstract： First, the concept and measurement of technology market is reviewed, then considering the character of integrity and reality of the index system, and the scientific and feasible character of indicators, the index system measuring the development of technology market is built from four aspects of the development extent of main body, operation degree of technology market, the level of protection of law and policy, and the effectiveness of technology market. Also, by using an experts marking method, a quantitative estimation of technology market development in China in 1991-2006 is conducted. It shows that the degree of development of technology market in China has been gradually increasing, but is far behind that of overall market economy, and in view of the four aspects of technology market, there is a quite imbalance.