The fifth plenary session of the 19th Central Committee of the Communist Party of China suggested a new development pattern for China’s agricultural and rural modernization, in which a dual circulation of domestic and overseas markets reinforcing each other with the focus on domestic market should be developed. This new pattern brings new requirements and opportunities to agricultural and rural modernization. Based on the current stage of China’s agricultural development and combined with relevant statistical data and literature review, this paper analyzed the internal relationship between the new development pattern and agricultural modernization and explored the key measures and specific pathway of China’s agricultural modernization. Results show that the construction of the new development pattern needs to boost domestic rural demand, to expand rural investment, to properly handle the relationship of industry and agriculture between urban and rural areas, and to make better use of domestic and international markets and resources, which provide a new vision for the realization of agricultural and rural modernization. It is essential to ensure the stable supply of important agricultural products, to optimize the utilization of agricultural elements, to enhance the competitiveness of rural industries, and to strengthen the control of the international resource market. Therefore, this paper suggests accelerating agricultural modernization under the new development pattern through food security strategy, industrial competitiveness promotion strategy, priority development strategy and urban-rural integration strategy.