Inner Mongolia keeps drawing more and more FDI over the years. The paper makes an analysis of the structure and economic effects of Inner Mongolia's Utilization of FDI so as to gain an insight into its FDI performance. The study finds out that obvious imbalance appears in the industrial structure and regional structure of FDI in Inner Mongolia. Though FDI has played an active role in the capital formation, industry growth, export and tax revenue of Inner Mongolia, the Utilization of FDI still falls behind the national level which reveals that the performance of Inner Mongolia's utilization of FDI needs to be improved.