The Three Character Classic (《三字经》), also translated as San Zi Jing or The Triword Primer, is the traditional Chinese Primer with the most significant influence and the broadest appeal. In the 21st century Chinese traditional cultural revival, traditional texts such as the Three Character Classic are reused as child education primer. Is the Three Character Classic still suitable for contemporary children's literacy and enlightenment? From the perspective of cognitive psychology and child development psychology, this paper used a critical literature review method to investigate the relationship between the Three Character Classic and children's language development, attention, memory, cognition, and moral development. It found that the content, structure, teaching approach of it conform to children's physical and cognitive development during early childhood. The Three Character Classic is not only the primary text for children's Chinese learning but also a valuable tool to understand the spiritual core of traditional Chinese culture. It has a particular value for children's literacy and enlightenment and those who learn Chinese as a second language.