In order to explore the implementation of the mixed ownership reform policy of vocational colleges and further improve the institutional system, this paper takes the text of the policy as the research basis and takes relevant judicial cases as an empirical comparison. It is found that the current system has problems such as low rank of policy, extensive provisions, broad definition, and vague regulations on management, and the above problems have also been confirmed in judicial cases. By rationally defining the concept of mixed ownership schooling, clarifying the property rights system, management mechanism, support measures and legal responsibilities of different modes of schooling, improving the supervision mechanism, and the quality and efficiency of legislation, it will help to enhance the enthusiasm of school-running entities and the effectiveness of school-running.