As a new paradigm for data warehousing demanded by today's decision support community, DW 2.0 recognized the life cycle of data with it, that make metadata evolution mechanism became one of the important research issues. The requirements of multi-version management for four data sectors in DW 2.0 environment are described. Then a novel metadata versioning meta-model is proposed, that is capable of storing and managing schemas versions, comparing and interpreting the results of versions queries, and tracing the version evolution. In implementation, the schema evolution with version is d in the abstract by model management operators; a verification engine to resolve the evolution inconsistencies is represented. The prototype has verified its feasibility and validity.