Load model is one of the most important elements in power system operation and control. However, owing to its complexity, load modeling is still an open and very difficult problem. Summarizing our work on measurement-based load modeling in China for more than twenty years, this paper systematically introduces the mathematical theory and applications regarding the load modeling. The flow chart and algorithms for measurement-based load modeling are presented. A composite load model structure with 13 parameters is also proposed. Analysis results based on the trajectory sensitivity theory indicate the importance of the load model parameters for the identification. Case studies show the accuracy of the presented measurement-based load model. The load model thus built has been validated by field measurements all over China. Future working directions on measurement-based load modeling are also discussed in the paper.