"Wuchang Taiping Lantern" is one of the main types of the national intangible cultural heritage "Dongzhi Lantern". It has a long history and rich meanings. It integrates the original cultural symbols such as folk songs and dances, original crafts and religious beliefs. It embodies the collective memory of the local people and reflects the spiritual outlook of the working people. The research on "Taiping Lantern" takes into account both diachronic and synchronic perspectives. On the one hand, through the description of "space", the research explores its historical origin and reveals its spatial state and regional structure of occurrence and development in "change" and "invariance"; on the other hand, its deductive form is interpreted to decipher the multicultural connotations contained therein, and identify the "idol" and "reality" according to the universality of the ritual, which is beneficial to the exploration of inheritance and the protection of the regional and minority intangible cultural heritage represented by the "Wuchang Taiping Lantern".