Background: Multiple myeloma (MM) is a hematologic malignancy that originate from a malignant clone of plasma cells. This study aimed to discover the reduction rate of monoclonal (M) protein after first and fourth cycle chemotherapy, which acts as a new prognostic factor for progression-free survival (PFS) in MM patients. Methods: We retrospectively analyzed 164 patients with MM. The overall survival (OS) and PFS from the time of first diagnosis were measured. Cox proportional hazards model was used to evaluate if the reduction rate of M protein after first to fourth cycle chemotherapy effect PFS and OS. . Results: Multivariate analysis was performed with factors including del(17p), t(14;16), t(14;20), ISS stage, age, AST and others parameters. The reduction rate of M protein after first cycle chemotherapy (C1reduction rate) (P<0.001) and the reduction rate of M protein after fourth cycle chemotherapy (C4 reduction rate) (P<0.001) acts as dependent predictors of PFS. The 36 months PFS rate in patients with a reduction rate of M protein after the first cycle chemotherapy was compared. The reduction rate of ≥25 vs <25% showed no difference, while the reduction rate of ≥50 vs <50% showed significant difference in PFS. Meanwhile, the reduction rate of M protein after the fourth cycle chemotherapy ≥25 vs <25%, ≥50 vs <50% showed no meaning, but the groups of ≥75 vs <75% showed significant differences in PFS. The patients with higher reduction rate in these two stages had longer PFS. Conclusions :Higher reduction rate of M protein after first and and fourth cycle of chemotherapy act as advantageous prognostic factors for PFS in MM patients in the initial diagnosis.