In the past few years, TPP was negotiated in close doors, drew worldwide attention in reaching agreement, and finally left behind by most people. This essay explores the brief history of TPP, explains its text in a systematic way, especially from the aspects of its purpose, trade of goods, trade of service, intellectual property, investment, and comprehensive rules and from the view of the comparison with WTO rules. This essay displays the advancement and representativeness of TPP and tries to justify that the text of TPP, as a new generation of rules on trade and investment, will be a model for future multilateral rules by pointing out the direction of multilateral negotiations, providing convenience for negotiators and becoming a tool to see to intention of different countries, so a thorough and careful study becomes necessary.