The objective of this paper is mainly to introduce al-Qaradawi’s economic thought and its relevance to contemporary development of Islamic economics discourse. His methodological approaches and discusses the debate that results from his selected writings in his books: Bay’ al-MurābaÍah li al-‘Amr bi al-Shirā’ kamā Tajrīhi al-Ma’ārif al-Islamiyyah, Fawā’id al-Bunūk Hiya al-Ribā al-Harām, Dawr al-Qiyam wa al-Akhlāq fi al-Iqtisad al-Islāmī, Ri’āyah al-Bī’ah fi al-Shari‛ah al-Islāmiyyah, will inspiring the contemporary Islamic economist in doing ijtihad. The findings show that al-Qaradawi sets new approaches in dealing with Islamic economics issues, such as ijtihad intiqa’i, ijtihad insha’i, and ijtihad juz’i. Overall his thought can be categorized as reforming (tajdid), characterized by realistic (waqi’i), tolerance (tasamuÍ), ease (taysir) and moderate (wasatiyyah).