In this paper, we develop a mini-max theory of the action functional over the semi-infinite cycles via the chain level Floer homology theory and construct spectral invariants of Hamiltonian diffeomorphisms on arbitrary, especially on {\it non-exact and non-rational}, compact symplectic manifold . To each given time dependent Hamiltonian function and quantum cohomology class , we associate an invariant which varies continuously over in the -topology. This is obtained as the mini-max value over the semi-infinite cycles whose homology class is `dual’ to the given quantum cohomology class on the covering space of the contractible loop space . We call them the {\it Novikov Floer cycles}. We apply the spectral invariants to the study of Hamiltonian diffeomorphisms in sequels of this paper.

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