The fast growth of a fresh phase of scientific and technical revolution and industrial transformation has prompted new engineering education requirements. Faced with the demands of future industrial development and the weakness of existing engineering education, China’s new engineering education transformation has made it a top priority to cultivate students with forward-looking new knowledge and technology systems and the ability to solve future problems for new engineering construction. This paper examined MIT’s New Engineering Education Reform plan in detail, covering the plan’s guiding principles, project-centered threads, and governance mode, using MIT as an example of a global leader in the new engineering education transformation. In addition, it analyzed innovative methods in training mode, curriculum system, and governance mode, namely integrating thinking mode into NEET project, integrating engineering education into practice, changing roles of teacher and student and integrating school and enterprise, and put forward development suggestions for China’s engineering education. This paper is to serve as a resource and shed light on China’s engineering education reform in the new era.