The global and advent use of the computer has recently resulted in the emergence of a fresh way of communication—computer-mediated communication, while the widespread of Internet gives birth to a new type of language —Netspeak, which is a new linguistic phenomenon with the spread of the Internet. It is an important and interesting research field in Applied Linguistics. The paper theoretically based upon the theories of Saussure’s linguistic signs and Roland Barthes’s, carries out mainly the analysis about lexical features of English Netspeak, specifically from the word-formation. It finally sums up that Netspeak is a kind of fresh linguistic variety, and it is quite necessary to have a clear attitude about how to standardize lexical features of English Netspeak, thus promote deep consideration.