This article studies the impact of family-management and professional management on the value of family firms. The results show that family-management will reduce firm value, and professional management will help to enhance firm value. However, as the proportion of family ownership increases, the negative impact of family management on firm value will be weakened, and the beneficial impact of professional management on firm value will also be reduced. The conclusion proves the necessity of implementing the professional management system in the process of family firm governance, and it provides a reference for the family firm to choose the governance model.