In recent years, core competence of corporation has been widely concerned by management theorists and practitioners. This paper systematically discusses the theoretical sources of core competence of corporation in detail. The authors argue that strategic management theory, economic theory, knowledge economic theory, and innovation theory all contribute to the formation of core competence theory. Then, this paper reviews the existing concepts of core competence of corporation in detail. Based on this,the logic structure of core competence is discussed．A new concept framework of core competence is advanced．The authors argue that core competence is a system constituting of competence component and competence architceture．It is also a hierarchy system including busines environment，corporation，subject，technology，product，and core product subsystem.