Based on the data of the best MBA ranking in China selected by Manager Magazine,DEA and Malmquist index were used to evaluate the efficiency of MBA programs of top 25 business schools in China.The results show that the overall MBA programs have a high value on technical efficiency due to the high pure technical efficiency and scale efficiency.As the technical regress deepened,the total factor productivity of MBA program presents a dropped tendency.The results of ANOVA show that the location,type and international certification have no significant effect on the efficiency.According to the cross analysis of technical efficiency and total factor productivity,different business schools should adopt different development strategies.