Non equity Strategic Alliance is one of the middle organization forms between enterprises and the market. It is loosely coupled and agile based on the restriction and coordination by contract. Relative to Equity Strategic Alliance, it shows the agile character. But, this character causes the instability and complexity. The authors did a research of dynamic stabilization in Non-equity Strategic Alliance supported by the theories of institution equilibrium from New Institutional Economics. Presuming a control management institute M, the dynamic stabilization model of Non-equity Strategic Alliance under conditions of complete information and incomplete information is established. The author hopes to help Chinese enterprises establish Non equity Strategic Alliance was established under the changing environment.