Step 1: Understanding the Chinese Revolution
- The Chinese Revolution culminated in the overthrow of the Nationalist government of the Republic of China by the Communist Party of China under the leadership of Mao Zedong.
- It was followed by the establishment of the People's Republic of China on October 1, 1949.
Step 2: Analyzing the Options
- (A) 1947: Incorrect, although there were uprisings and early conflicts, the Revolution was not completed until 1949.
- (B) 1949: Correct, the Communist Party of China, led by Mao Zedong, won the Chinese Revolution, leading to the foundation of the People's Republic of China.
- (C) 1951: Incorrect, by this time the People's Republic of China was already established.
- (D) 1954: Incorrect, the Revolution had concluded in 1949, long before 1954.
Step 3: Conclusion
The Chinese Revolution took place in 1949, marking a significant turning point in the history of China.
\[
\boxed{\text{Correct Answer: (B) 1949}}
\]