Red yeast rice, containing a variety of active metabolites, is applied in both food and drug for nearly one thousand years and appeals a lot of attention. Brown rice, which contains a variety of hygienical component, is a kind of food with high nutritional value and good for the development of intelligence. In this study, a kind of red yeast brown rice biscuit was developed and the dynamic model of life-time prediction was established to determine the chang of Monacolin K during the storage period. All of these provided theoretical bases for the diversification development of functional food and grain products in our country. The ratio of raw materials, baking temperature, baking time, and other factors related to quality of Monascus fermented brown rice biscuit were investigated. The best process conditions were obtained through the orthogonal test:flour 100g, brown rice flour 80g, bran 2.50g, sugar 40g, vegetable oil 35g, baking lit 180℃, and under fire 175℃. A storage life prediction model of Monascus fermented brown rice biscuit was established by detecting the changes of acid value and Monacolin K content (θ=10(-0.02C+3.12),where θ is biscuit shelf life). Moreover, the shelf life of Monascus fermented brown rice biscuit was 350 days at the room temperature.