"Materializing morality" is currently a hot term in the researches on philosophy of technology in China, while "materialization" is a common concept in the study of Western Marxist theory. Although two correspondent terms can be expressed differently in English, they are related in terms of etymological meaning. The critical theory of materialization from Lukács to the Frankfurt School inherits the dialectical tradition of Hegel and Marx, and explores more about the nature of human, the relationship between human and objects, and the relationship among humans from behind the phenomenon of materialization. This article attempts to bring the theoretical resources of the "forgotten" critical theory of materialization back to current discussion of "materializing morality" in the field of technology philosophy. With these theoretical resources, the positive and negative effects of the phenomenon of "materializing morality" can be discussed in a deeper way, and more attention can be paid to "grand" negative risks.