Magnetic Reconnection and Current Sheet in CME/Flare Processes: Theories and Observations Jun Lin In the astrophysical environment, magnetic reconnection is probably the unique way that can quickly convert the magnetic energy into other types of energy, such as thermal and kinetic energy. Because of the high electric conductivity of the plasma in the astrophysical environment, such fast energy conversion or dissipation is usually confined in a very local region like the X-type neutral point or the electric current sheet. In reality, the plasma conductivity is fairly high, but it is not infinitely high, so, the finite rate of dissipation in the current sheet yields that any reconnection site with finite scale is not able to exist long unless plasma and anti-parallel magnetic fields can be somehow continuously brought into the relevant region, such as the long duration existence of the geomagnetic tail of the Earth and the helmet streamer of the Sun are supported by the sustained flow of the solar wind. However, the current sheet structure that appears in the CHSKP model of two-ribbon flares occurring in the lower corona of the Sun can never exist for long in the solar atmosphere, it has to be produced as the closed field lines on the lower corona are stretched outward by the eruption. The magnetic reconnection occurring in such a current sheet plays an essential role in helping CME smoothly propagate in the outermost corona and interplanetary space, and in creating growing flare loop system in the corona and the separating flare ribbons on the solar disk. In this report, we are going to overview the models of the solar eruptions that manifest both CME and flare, discuss the model that describes the detailed development of a long current sheet, and the corresponding observational consequences. Furthermore, observations of the current sheet formed by the eruptions will also be displayed and compared with the theoretical results.