With the fast development of the modern science and technology, especially information technology, more and more enterprises have been convinced of the difficulties of technical innovation if they only depend on the capabilities of themselves. New age needs a new organizational structure. So, virtual R&D organization is emerging. Virtual R&D organization is a new kind of R&D innovation organization, which has run triumphantly in some areas. Its essence is to achieve research activities by establishing cooperation connection with other research organizations with the help of the modem network. It breaks down the limitations of space and reinforces the cooperation of these research organizations, which include enterprises, institutions of higher learning and science research institutions. Compared with the traditional R&D organization, it has many advantages. In other word, it is an outcome of age. As a new organizational structure, the management of virtual R&D organization has become a learning field which attracts man.); scholars' attentions. This paper introduces the organizing features, the collaborative mode and the component forms of virtual R&D organization, and analyzes advantages of it. On the basis of the introduction and the analysis of one kind virtual R&D organization which is composed of government, enterprises, institutions of higher learning and science research institutions, the authors put forward some reasonable proposals in the management of virtual RD organization.