Abstract: Collaborative governance is the target mode of Urban renewal under the present time background. Through case study,the purpose is to explore the construction of collaborative governance mechanism for urban renewal and the path to realize it. Based on Ansell and Gash's model of collaborative governance,the case of Shanghai Urban renewal is studied and the key factors influencing the collaborative governance is analyzed include starting conditions,facilitative leadership,institutional design and collaborative process. It is found that current land banking mode of Shanghai urban renewal contains several elements of collaborative governance success,but still have problems such as low efficiency of intergovernmental coordination,difficult for social enterprises to participate and inhabitant participate in low level. Then collaborative governance mechanism for urban renewal is reconstructed from three aspects of participants' interests guarantee,organization reengineering and operation optimization and put forward sound paths to achieve it by improving system arrangement,strengthening intergovernmental cooperation,establishing channels of social enterprises participation and improving the level of inhabitant substantive participation.