The theory of balance of power is an influential theory in international politics. In history, many statesmen and theoreticians tried to develop the policy of balance of power in theory as well as in practice. There are still many who have faith in it. The author believes that balance of power is but one of the policy choices, not the absolute and the only one, nor is it the inevitable and only result in international political reality as Hans Morgenthau maintained. Balance of power is the manifestation of a special form of imbalance of development. When power politics is still playing a role in real international politics, it is a chosen policy to use balance of power to protect national interest; however, it should not be absolutized and idealized as a pattern to maintain international law and order. The nature of balance of power itself determines that it will inevitably give rise to sharp conflicts of interest. For the international community, it is more important to preserve stability and development through contacts and cooperation and by seeking and expanding common interest.