Abstract: The public lands owned by the U.S. federal or state governments are state-owned natural resource assets, and their experience in the rule of law of the ownership management can be summarized as follows. Firstly, the ownership of natural resources is classified according to the difficulty of management and value objectives of different na- tural resources, and thus different rights are set up. Secondly, the management institutions of the ownership of public lands are legalized, specialized, and scientific. Thirdly, the relationship between government and the market is coordinated by clarifying the ownership and regulatory rights of natural resources. The state ownership system of natural resource assets in China is an important part of Constitution of the People’s Republic of China. The U.S. experience can provide implication for the reform of natural resource assets in China. In terms of ownership management, it is necessary not only to rely on administrative measures and strengthen the specialization and scientization of management, but also to give full play to the role of the market. In addition, under the premise of adhering to socialist public ownership, it is essential to respect the multi-purpose nature of natural resource assets, promote the separation of ownership and use rights of natural resource assets based on the needs of economic and social development, realize the diversified value of natural resource assets, and safeguard the rights and interests of owners.