The archives value appraisal theory, which has been considered as the most widely accepted thoughts on archival science since the birth of archival appraisal theory, has gradually revealed the general rules of archival appraisal from aspects of preservative value of archives, value subject, judgment criterion, value content and so on, and is generally followed in the historic practice and practical work of archival appraisal. However, the archives value appraisal theory builds the preservation value on the future user requirements of archives, which exceeds the ability and practical feasibility of archivists, and makes the archives appraisal fall into the paradox of subjective conjecture. At this point, standing on the basic functions of appraisal process and the archives essence of being social memory, the archives appraisal should identify the preservative value of files by the basis and standards of social memory of archives, and construct the theory of archival memory appraisal from both subjective and objective perspectives.