In this paper, the chemical process of each step in fabricating the holographic phase diffraction grating with silver salt sensitive materials has been studied in detail. A new analysis of the bleaching methods have been made through the study. The result shows that among the types of bleaching methods, the reversal bleach can not be reacted chemically. And the experiments about the chemical reactions, the characteristics of the reaction products and the refractive modulation types by the bleaching methods have been done to prove the theory. It is investigated that the exposure acts as the catalyst of developing reaction and affects the developing reaction time conspicuously. At the optimum developing reaction times, which could be taken from the experiments, the holographic diffraction gratings with high diffraction efficiency over 70% could be obtained in the range of the exposure quantity 50~350 [$mu$J/ $ extrm{cm}^2$]. From the experiments about the correlation of the chemical processing conditions of the composition of developers, the exposure, and the developing reaction time, it has proved that the enhancement of the diffraction efficiency is impossible in the limited exposure energy and conventional constant chemical reaction time.