China has enacted numerous green building policies (GBPs) to promote green building (GB) development in the past decades. Investigating the evolution characteristics of China’s GBPs is significant for the future optimization of the GBP system. However, few studies on this topic have been conducted. To bridge this research gap, this paper adopted the methods of bibliometric analysis and text mining to probe the dynamic evolution of the GBPs in China. Firstly, a total 199 collected policies from 1986 to 2019 were grouped into five stages according to the Five-Year Plan. Then, the topics emphasized in different stages and the cooperative relationships among policymaking agencies were discovered by mapping and visualizing the co-word network and co-author network. Based on the derived results, an in-depth discussion was further conducted from five aspects: targets, objects, instruments, GB performance indicators, and the collaboration structure of policymaking agencies. It was revealed that the topics of GBPs evolved from macro to specific, and the types of policy targets, objects, instruments, and GB performance indicators evolved from few to multiple. Additionally, the collaboration structure of policymaking agencies went from dispersive to centralized. This study sheds lights on the dynamic evolution of China’s GBPs and provides valuable references for other countries in need.