Abstract: Authenticity has been the important content of contemporary life, and also has been identified as the pivotal attribute of time-honored brand’s success. This paper investigates the meaning of time-honored brand’s authenticity for the fist time. Based on the data collected from in-depth interview, we use grounded theory to define the concept of authenticity of time-honored brand, and to divided the authenticity into three dimensions—objective, constructive and self authenticity. Then, we interpret the characteristics of authenticity as original leading, social context and non-commercial leading. Finally, we point out some limitation and propose some suggestion for future research.