Although investigations and evaluations are being carried out, there is little research on the relationship between urban regeneration factors, in which various stakeholders participate, and various projects are underway simultaneously. Therefore, this study aims to understand the critical factors and influence relationship among factors in urban regeneration projects in the Nanluoguxiang area, where such projects have been carried out for the historical and cultural preservation in Beijing, China. The implications of this study are as follows: First, both factor public space environmental improvement and building restoration and improvement were analyzed as the most important factors. Second, the elements of the public space environmental improvement and the building restoration and improvement were closely related, influenced by policies and plans, guidelines and criteria, investigation and research, and the subsidy support project. Third, despite the fact that the project was promoted with the aim of revitalizing culture, it was analyzed that the influence of cultural elements on other factors was very minimal because of excessive commercialization.