Abstract: Space spirit with profound and extensive spiritual strength is an important part of the long line of inspiring principles for the Chinese Communists, and a vital theoretical guidance for fostering a new generation of young people. From theoretical analysis, it can be seen that space spirit and fostering a new generation of young people are intrinsically related in theoretical, historical and value dimensions, which constitutes the theoretical starting point for nurturing a new generation of young people with space spirit. From the realistic point of view, there are some problems in current space spirit, such as strong theoretical interpretation, lack of pertinence, too authoritative dissemination of public opinion, insufficient appeal, strong unity in practice, and insufficient diversity. These problems have weakened the youth’s identity of space spirit. In view of this, it is essential to foster a new generation of young people with space spirit from three aspects. That is, we need to innovate the discourse expression of the space spirit by taking theoretical identity as the cornerstone, establish a pattern to spread the space spirit by taking emotional identity as the support, and expand the practical orientation of space spirit by taking behavioral identity as the purpose. All these will help the youth become more proud, confident, and assured.