The Internet has opened an industry chain connecting movies, TV, online games and animation, so the IP of online novels is not limited to movie adaptations, but also includes games, anime, and peripheral products. The gradual improvement of the online novel copyright trading market is the transformation of the IP Internet providing a development environment, and building a complete industrial model can make popular IP play a higher value. However, compared with the relatively complete and mature IP industry chain abroad, China's online novel IP industry still has many problems. The problems of the IP industry of online novels have become more and more obvious, and the quality of works is uneven; the main body of each link of the industrial chain is lacking in union; the value of brand IP has not been maximized. The popularity of online novel IP indicates that the industry has recognized the characteristic of "content is king" in the cultural and creative industry, IP development is a long-term process, and it is vigilant that the market caters to the short-sighted behavior of "emphasis on interests and light on culture" This paper discusses the problems of IP development of Internet novel by analyzing the status quo of IP development, analyzing its characteristics and summarizing the mode of IP industrialization of Internet novel from the angle of culture industry development, taking IP as the object of research. Based on the development of the cultural industry value chain, it proposes solutions on how to convert online novel IP into high-quality IP resources and how to develop new models under the original industrial model, with a view to providing a new format for constructing and improving the industrialization of online novel IP reference.