The purpose of this article is to explore in depth the historical background, iconographic content, and its historical value and significance of Han Xizai's Night Banquet through the perspective of socio-historical criticism. The article firstly analyzes the socio-historical situation of the Five Dynasties period, especially the political and cultural background of the Southern Tang Dynasty, as well as the association between Han Xizai and the Southern Tang Dynasty royal family. Secondly, it provides a detailed pictorial interpretation of Han Xizai's Night Banquet in terms of its picture content and scene arrangement, character image and costume props, artistic style and presentation method. Finally, the historical value and significance of the painting are discussed. Han Xizai's Night Banquet not only reflects the social and political background of the Five Dynasties and Ten Kingdoms period, but also reveals the relationship between Han Xizai and the royal family of the Southern Tang Dynasty. With its fine brushwork style and unique narrative technique, the painting shows the prosperity of the court culture and the luxury of aristocratic life in the Southern Tang Dynasty. At the same time, the painting also has important value in art history, painting technique, cultural relics and collection history. As a precious historical document, The Night Banquet of Han Xizai not only helps to enrich our understanding of ancient history, but also enhances our appreciation of ancient art, and has certain reference value for historical and artistic research.