One of the major problems during the history of Chinese traditional ethics is the problem of righteousness and profit, Due to the specifically historical development background in the Song Dynasty, the problem of righteousness and profit is more highlighted and complicated. The debate on righteousness and profit in the Song Dynasty involves sexual passion, principle and desire, the public and the private, etc. This period is typical characterized by the argumentation for the Confucianist dominant value orientation of “righteousness first” from the perspective of ontology, and by further deepening the theory in the debate against the utilitarian thoughts.