Abstract: With the Internet finance flourishing, the risk of its reserves cannot be ignored. P2P network lending is one of the major formats of Internet finance with very big risk spillover effect. Therefore, the study of its risk regulatory has very important significance. This article draws on the index system to identify systemically important banks by the Basel Committee, combined with the characteristics of China's Internet finance development and the current situation of P2P network lending for a reasonable index system improvement. In this paper,we ranked the most important P2P network lending institutions by the systemic importance, and compared the results with previous researches. This work has certain significance on the promotion of classification and appropriate supervision for Internet finance.