Lihuang Opera is a traditional local drama in Wuhu City, Anhui Province, China. Although it has been listed as an intangible cultural heritage, the present state of Lihuang Opera is not optimistic. With the disappearance of the traditional regional cultural atmosphere, the competition of multiple cultural forms, and the loss of the inheritors, Lihuang Opera is declining and cannot survive by commercial performances, which is also a common problem faced by regional operas in many places in China. This paper explores the history, the artistic characteristics, and the predicament of inheriting of Lihuang Opera. The paper argues that the endangered regional operas, which have cultural inheritance value but are not realistic enough to maintain the performance, can be passed on by preserving their unique cultural features. The purpose of inheritance is not only to protect one kind of art form but, more importantly, to protect the diversity of national culture so that it will produce new vitality in the future.