Based on the normal theory of economi c growth,this paper analyzes the relationship between the educa-tional investment and the real economic growth in China by time series tec hnology.The Granger causality test show that the educational investment was an important input of real economic g rowth,whereas the economic growth h ad obvious effect on the educational in vestment.The Cointegration test sh ow that there was stable equilibrium between them.The policy implication of the r esult is that there is possibility to stimulate rapid economic growth by r aising educational investment in China.