China, Thailand, and Vietnam are key players in world rice market in terms of production and trade. In the past few decades, rice policies in these three countries have changed significantly resulted in changes in production, exports and influences in the world market. This paper reviews major rice policy reforms in China, Thailand and Vietnam during past five decades. It is observed that although each country has practiced different policies at different periods, with the economic development, individuals and market forces have played more important roles in domestic market while government interventions still exist and it is important for the government to invest in rice breeding technology and infrastructure construction. It was found that China and Vietnam have benefited from farm system reforms, the adoption of hybrid rice and the investment in irrigation while liberalization of rice export premium and provision of credits in 1980s have helped Thailand to become the largest rice exporter.