Subject to various restrictive requirements on project application and completion, funded projects are often affected by funding policies for the selection of research objects. This study explored the impact of scientific research funding policies on the funding and research by comparing the topic distribution of awards and papers. A total of 1,870 awards and 16,491 papers of the National Social Science Foundation of China (NSSFC) in library and information science (LIS) were collected from a Chinese research project database. According to the results, the growth rate of awards on most topics is higher than that of papers, while the growth rate of papers on the relevant topics to users, technology, and metrology is higher than that of awards. It was found out in the study that the topics funded by NSSFC were imbalanced. NSSFC provides much more funding to traditional topics rather than emerging topics. As indicated by the funding provided to the projects on traditional topics for research on a large number of papers on emerging topics, however, the innovation and diversity of academic research have yet to be restricted. This study demonstrated that the effect of funding policies on the research topics in LIS is significant. Topic suggestions and funding structure of NSSFC have more impacts on award topics than on paper topics. The influence of NSSFC-recommended topics on paper topics is declining year by year. Additionally, awards with high funding intensity are more susceptible to topic suggestions.