This paper is to propose a conception of intelligent logistics system based on internet of things, elaborates its characteristics, introduces the main technique of its application and sets up a logical framework based on internet of things by examining the recent research on modern intelligent logistics. Intelligent logistics system is classified into several subsystems: intelligent logistics information subsystem, intelligent transportation subsystem, intelligent product tracing system, intelligent warehousing subsystem, intelligent logistics distribution subsystem, intelligent distribution processing system, intelligent packing subsystem, intelligent loading and unloading subsystem, and intelligent decision-making support subsystem. The functions and model structure of each subsystem are given and analyzed.