Bankruptcy administrator system is the most mature system of western developed countries, and its generation and development is closely related to market economy. Establishment of bankruptcy administrator is inevitable requirement, and bankruptcy administrator plays an important role in the whole bankruptcy procedure. With the acceleration of economic reform and the increase of bankrupt companies, it is increasingly urgent that China perfects the bankruptcy legislation and the necessity and urgency of establishing the system of bankruptcy administrator are considered by the law theoreticians an issue to be earnestly considered. As for developing China, how to build and perfect bankruptcy administrator system is a meaningful subject on theory and practice. This thesis is a study on the concept, rights and obligations, authority, status, function, supervision and other relevant problems of the bankruptcy administrator. Finally, aiming at these problems, this thesis puts forward relevant improvement suggestions. For example, clearly confirming bankruptcy administrator`s independent legal status, carrying out ``bipartite system`` for the appointment of bankruptcy administrator, establishing bankruptcy administrator`s property guarantee system, perfecting bankruptcy administrator`s legal liability system, etc.