In a 21st century context characterized by the inefficient use of urban construction land, to optimize land use structure and transform resource utilization methods, it is necessary for the Chinese government to improve land use efficiency. Promoting the readjustment of inefficient urban land use has become essential. The purpose of this paper is to sort through the policies addressing the readjustment of inefficient urban land use in China, identify the promulgation date, longitudinal hierarchy, and horizontal composition of the relevant policies, and summarize the evolutionary trend of such policies. This study aims to provide a reference for the adjustment and improvement of relevant policy systems in China. The content analysis method was used in this study, and NVivo 12 software was used to compare and verify the analysis process. The results show the following: (1) A large number of relevant policies have been promulgated, with a total of 12 items from 1988 to 2012, increasing to six items annually on average from 2013 to 2019. The Communist Party of China Central Committee, the National People’s Congress of the People’s Republic, the State Council and relevant ministries promulgated 13.46%, 11.54%, 28.85%, and 46.15%, respectively, of the relevant policies. (2) The existing policies are mostly issued in the form of notices, opinions, management regulations, etc.; therefore, their level of effectiveness is low, and the role of norms is weak. (3) Finally, the policy content experienced stages of initial exploration, basic establishment, and continuous improvement. It also covered aspects such as Standard Control, Market Configuration, Overall Planning, Incentive Mechanisms, Income Distribution, and Supervision Evaluation. The system for policies addressing readjustment of inefficient urban land use has basically been perfected, although post approval supervision still needs to be strengthened. Therefore, the process of readjusting inefficient urban land use should be optimized, new modes of readjustment should be constantly explored, and inefficient land use should be addressed across the entire territory.