Nowadays, as the development of knowledge economy and innovation, it is an inevitable trend to add the knowledge-based GDP into the national economy accounting system. The knowledge-based GDP is made of the intellectual property products, innovative capital, marketing assets and human capital. This paper suggests that the knowledge-based GDP should be included in the scope of national accounts, which will bring about the total expansion and great improvement of China’s GDP accounting and promote the development of China’s knowledge-intensive industries. At the same time, it will also become an important basis for the government’s macro management and micro decision-making.