The Mid-Autumn Festival originated from the lunar sacrifices. The lunar sacrifices took place in the early years in various parts of the world, and they were associated with “reproductive worship,” which was the product of primitive thinking. However, since the Zhou Dynasty(1100 BC-221 BC), the connotation of the official lunar sacrifice had changed from reproductive worship to respect for the laws of nature and society. It was closely related to the Chinese ritual and music culture and the concept of “Yin and Yang.” In addition to the official lunar sacrifice activities, the Mid-Autumn Festival, as a folk ritual, was more influenced by folk beliefs,myths, legends, and the literati’s appreciation of moon during its formation process. Goddess Chang’e Ascending to the Moon and Wu Gang Cutting the Laurel are two myths closely related to the Mid-Autumn Festival, which played an important role in forming folk customs and beliefs in the Mid-Autumn Festival. Through the investigation of the Mid-Autumn Festival folk customs, one could learn about some beautiful ideals in the Chinese belief system and the formation process of longevity thought. The tradition of the Mid-Autumn Festival has been severely impacted in contemporary society. To reconstruct the folk ceremony of the Mid-Autumn Festival, four ideals are essential, i.e., “reunion,” “equality,” “the sense of poetry,” and “the sense of life.” New means of communication, such as the well-developed Internet and social media, as well as education and drama,could be used to endow it with new vitality in a timely fashion.