Abstract: Academic study of the relationship between social network and innovation of entrepreneur has been in dispute. On one hand, the lack of in-depth investigation of dual nature of entrepreneur’s social network; on the other hand it failed to take into account the situational conditions of entrepreneur’s social network influence on innovation. This paper takes the private domestic high-tech enterprises as samples, to explore the relationship between entrepreneur’s social network and innovation performance, and to examine the moderating effect of organizational slack on the relationship between the two. Results show that the universality of entrepreneurial social network has "U" type relationship with intensity and innovation performance. Organizational slack plays a moderating effect on the relationship between the two, namely organizational slack has a positive moderating effect on entrepreneur social network’s intensity relation influence on the innovation performance; and has a negative moderating effect on the relationship between entrepreneur social network’s width and innovation performance. Finally, implications for management practice and future research direction are been discussed.