Abstract: It is necessary to summarize the current situation and prospect of international space law at the moment when the 1967 Outer Space Treaty has entered into force for forty years. Since 1961, great achievements have been made in the lawmaking of international space law, and the jurisprudence of international space law ha s been established in the framework of United Nations Committee on the Peaceful Uses of Outer Space. However, the development of international space law has enc ountered some problems, partly due to its own defects, but most of which derives from the challenges brought by the rapid change and development of outer space activities. International space law is increasingly representing in soft law wit h the decentralized rule makers. Therefore, the relevant problems should be reso lved in conformity with its trend in development.