Abstract:[Objective] Bacillus thuringiensis (Bt), characterized by the massive production of insecticidal crystal proteins (ICPs) during sporulation, serves as the main strain resource for the commonly used and safe microbial insecticides. To further explore the mechanisms of sporulation and parasporal crystal formation and lay a theoretical foundation for the construction of efficient strains, we compared the transcriptomes of Bt at three important stages. [Methods] The transcriptomes of the hypervirulent strain Bt4.0718 at the middle vegetative growth stage (T1-10 h), the early sporulation stage (T2-20 h), and the late sporulation stage (T3-32 h) were compared. The representative differentially expressed genes (DEGs) were verified by real-time fluorescence quantitative PCR (qRT-PCR), and the phenotypes of the mutant strains with the knockout of specific functional genes were examined. [Results] The number of DEGs was 2 147 (T2/T1), 1 861 (T3/T1), and 1 708 (T3/T2), respectively. At T1, the medium was rich in nutrients, which served the sporulation and parasporal crystal formation. The high transcription levels of kinA/D, spo0A/F, and sigE regulating sporulation played a role in the growth and development of the cells. The transcription of Cry1Ac, poly-hydroxybutyric acid (PHB), and hydroxybutanone (acetoin) were started at this time. The substantial formation of ICPs and spores occurred at T2 and T3, and the transcript levels of the regulatory genes were higher at T2 than those at T3. The genes associated with spore core/coat/cortex, germination protein, and spoII–spoVI began to be transcribed in large amounts at T2, with the highest levels among the three stages. The corresponding complex networks of carbohydrate, amino acid, and lipid metabolism, energy, nucleic acid, and peptide metabolism, secondary metabolite production, and environmental adaptation showed differences. In addition, as the physiological processes stimulated by nutrient signals, the two-component signal transduction system (TCS) and ABC transport system played an essential role in the process of sporulation and ICP transcription and expression, and their transcription levels were significantly different. [Conclusion] With the production of ICPs and sporulation, nutrients are gradually consumed, and the high expression of sigB, sigW, and sigM contributed to the stability of cell wall and the resistance to environmental changes. Meanwhile, the small heat shock proteins Hsp20 and Hsp20B, as molecular chaperones, were also important for maintaining intracellular homeostasis and may facilitate the sporulation and ICP production.