Based on the Panofsky's image theory, the work aims to reveal the cultural information such as historical knowledge, morality, ethics and values contained in the images of Kaifeng New Year Paintings, and explore the effective methods of digitally translating their knowledge systems. The research method of "three-stage image analysis" proposed by Panofsky was adopted and the process system of extracting cultural factors of Kaifeng New Year Paintings and applying digital design was proposed. With the classic New Year Painting "Striking the Whip on Foot" as an example, the cultural connotation behind its images was analyzed, the analysis results were transformed into a visual "Cultural Factor Library of New Year Paintings", and further the direction of digital application of the cultural factor library was proposed. The digital application case of "Cultural Factor Library of New Year Paintings" is the result of innovative transformation and digital activation of traditional New Year Paintings, which translates the cultural information of traditional New Year Paintings into visual language familiar to the audience, and disseminates it by digital means. It not only sorts out the knowledge framework of New Year Paintings, but also provides guidance for driving the innovation and inheritance of excellent traditional culture in the digital era.