In this paper, we calculated ∑ value of Panxi Rift by Artyushkov’s equation (1982), which is:∑～4.7×109 bar·cm and value of regional stresses is:σ～1-2k bar Formation of Panxi Rift was controlled by fault system, and drived by dynamics derived from mantle upwelling. Panxi Rift formed in Palaeozoic Bra, although it revived in Mesozoic and Cenozoic Bras but deformation was not specially strong. During formation and evolution of Panxi Rift, it subjected to stresses derived from mantle up-welling, extension, compression, shear-extension, shear-compression in different geological periods and different degree. Deformation changed from strong to weak and from quick to slow with geologie age.Geological and geophysical characteristics of Panxi Rift are similar to some rift systems in world including a few rifts in China. The similarities between Panxi Rift and others are mainly in respects of the changes of fault system in vertical direction, extend of fault in plane as well as the magma activities etc.During formation and evolution of Panxi Rift there occurred many violent earthquakes ; studies on mechanism of formation of these earthquakes may promote the probe into the mechanism of formation of Panxi Rift.