The investors are the most important Participants in the securities market. To protect the benefits of investors,especially small and medium-sized inverstors’ benefits, is the most important element of the securities market which develops rapidly and healthily. At the same time as the securities market is growing more and more prosperous,there are more and more investment entities involved in the stock market, the interests of investors will also be subject to all aspects of the abuse, and the small and medium investors is the vulnerable group in the stock market, the protection of their benefits can not be ignored. This article focuses on the research of the problem of the securities market supervision and the protection of invetors’ benefits.Through analying the current situation of the securities market supervision and the protection of invetors’ benefits in our country,the article put forward some suggestions to impove the supervision of the securities market, thereby,we can protect the investors’ benefits better, and make China’s securities market operate efficiently, smoothly and orderly.