In order to enhance the efficiency and standard of the supervision of the Internet finance in China, an evolutionary game model between the operator of Internet finance and the government supervisory authority is established on the basis of the current development situation of the Internet finance. By analyzing the stability condition of both sides, their behavior characteristics and the impacts on the steady state are revealed. The obtained four stable strategies and an unstable strategy show that the government could take the following measures to promote the healthy development of Internet financial industry: giving special subsidy to the innovation of Internet finance, increasing the penalty for the illegal business of Internet finance operators, elaborating the preferential policy for Internet finance innovation, constantly lowering the cost of supervision and so on.
