Three level seismic fortification theory is seismic design theory of the bearing capacity,which can not really realize that no damage under minor earthquake, repairable under moderate earthquake and no collapsing under strong earthquake. In order to overcome this deficiency, American earthquake engineering and structural engineering experts have profound conclusion after the previous earthquakes, improved bearing capacity design method, put forward the theory of performance-based design. Firstly,the origin of performance-based design theory is introduced in the paper. Secondly,the main content of performance-based design theory is illustrated,which include Earthquake Hazard Levels,performance levels of building structure,target building performance levels and performance- based design methods Finally,the paper pointes out that performance-based design theory has attracted extensive attention of Chinese researchers and engineering designer,a series of research work has been carried on,and some achievement has been made.