Abstract: Against the backdrop of advancing high-level technological self-reliance, data asset disclosure has become a critical lever for firms to build competitive advantages in digital technological innovation. Based on panel data from Shanghai and Shenzhen A-share listed companies during 2012–2023, this study employs a fixed-effects panel regression model to empirically examine the impact of data asset disclosure on corporate digital innovation.The findings reveal that data asset disclosure significantly promotes both the quantity and quality of digital innovation. Heterogeneity analyses show that the disclosure effect on innovation quality is more pronounced among manufacturing firms, while non-manufacturing firms primarily benefit in terms of innovation quantity. The impact of disclosing self-use data assets is stronger than that of transactional data assets. Furthermore, technology-intensive firms experience greater improvement in innovation quality.Mediation and moderation analyses indicate that enhanced positioning in technology trading networks serves as a key mediating mechanism. Moreover, intellectual property (IP) protection positively moderates the relationship between data asset disclosure and innovation quantity, but has no significant effect on innovation quality. This study offers practical guidance for enterprises seeking technological upgrading through data asset strategies and provides policy implications for improving data disclosure regulations.