In modern society, cultural evolution follows the logic of capital, and the reconstruction of festivals is influenced by economic forces. Based on the research of the Shankang Tea Ancestor Festival of Bulang people in Mangjing Village, Jingmai Mountain, Yunnan Province, this article discusses the reconstruction process of the invented festival. In order to study the process and mechanism of the festival's reconstruction, four field investigations through participatory observation and non-participatory observation were carried out respectively in January 2015, April 2016, April 2017, and January 2018, and in-depth interviews were conducted with 38 local residents, government officials, and tourists. Empirical findings indicate that the festival reconstructs two main cultural systems of the Bulang people—the Tea Ancestor culture and the Tea Soul culture. The culture in festivals has become a cultural symbol in the market economy and has produced economic values. Economy becomes the external power of the construction of local culture and the native people's cultural identity becomes the internal driving force. The festival represents the local ethnic minority culture, promotes the development of tea economy, and improves the livings of local inhabitants. The Shankang Tea Ancestor Festival successfully integrates culture and economy, which in turn enriches the connotation of the festival. The study explored the cultural reconstruction of traditional festivals through an economic perspective and deeply revealed the evolution of meaning, which expands the theoretical research of traditional festivals.