Academy of “da xiao ma zhan” has long been listed as the historical and cultural block in Guangzhou. However，the progress of its conservation and activation has been rather twists and turns over the past decade. This paper first analyzes its historical and cultural values，sorts out its activation and conservation work process，and then explores the attitude and vision of various interest groups such as local government，citizens，ancestral hall descendants，experts and scholars，the news media in its utilization and activation. Attempts have been made to explore the process from the perspective of material space，economic development，Policy system，functional structure and many other aspects of the factors that impede its activation and conservation. Finally，by comparing with the successful cases of conservation and conservation in the historical and cultural blocks of Enning Road，this paper puts forward some strategies to optimize the utilization and activation of academy of “da xiao ma zhan”.