The Nobel Prize for artemisinin and the COVID-19 pandemic have heightened interest in the disease prevention and treatment of traditional Chinese medicine (TCM). However, uncertainty and misinformation remain about some key issues. Herein, we discuss the current literature showing that, despite TCM gaining recognition, the theoretical systems of TCM and Western medicine rooted in different cultural backgrounds have huge differences in their theories and treatments. How to achieve accurate diagnosis in TCM, how to give scientific treatment, what is the mechanism of treatment, and what are the effect and safety of treatment, all need to be more clearly explained and require high-quality modern scientific evidence. An emerging consensus exists that, with the help of modern technology and scientific methods, it is necessary to excavate the essence of TCM that truly conforms to the laws of human life movement and disease development, realize cross-complementation with Western medicine, enhance human understanding of diseases, enrich diagnosis and treatment methods, and promote a new level in the field of life sciences.