Abstract: Under the context of urban regeneration and sustainable development， industrial heritage conservation faces challenges such as functional homogenization and unsustainable business models. Taking the Shanghai World Expo Cultural Expo District as a case study， this paper explores an iterative conservation model for industrial heritage in urban renewal context. The study reveals that traditional conservation approaches， overly reliant on capital-driven interventions and neglecting long-term operations and community integration， usually lead to cycles of "gentrification" and a dilemma of secondary renewal. To address these issues， an "iterative conservation" theoretical framework is proposed， emphasizing dynamic adaptability， contextual relevance， and a people-oriented approach. By setting phased objectives， conducting dynamic value assessments， implementing comprehensive intervention measures， and establishing long-term governance mechanisms， this framework facilitates the synergistic evolution of industrial heritage and urban development. In the case study， the Cultural Expo District revitalizes industrial heritage into cultural catalysts for regional vitality through integrating historical contexts， constructing flexible functional layouts， adopting reversible design strategies， and building multi-stakeholder governance platforms. The research demonstrates that iterative conservation not only provides adaptive pathways for industrial heritage， but also offers a theoretical paradigm for preserving contemporary built heritage and driving holistic urban revitalization， highlighting the role of historical-cultural resources as core drivers of urban development.