CBD pedestrian traffic system is a new traffic facility, and has a function of improving the CBD travel conditions. The land economics of CBD pedestrian traffic system is analyzed. The investment construction of CBD pedestrian traffic system makes the urban land formulate the second form of urban differential rent. Under the condition of full market competition, the supernormal profit is produced. The construction of CBD pedestrian traffic system is also a generalized element substitution. Its role makes CBD business institutions obtain the greater competitive land rent. At the same time, the marginal price of characteristic bundle of CBD pedestrian traffic system is given, which is the price that the consumers are willing to pay for CBD pedestrian traffic facilities. This price is a part of pedestrian traffic system influencing CBD land price.