The influence of enterprise digitalization on enterprise value creation has attracted more and more attention by enterprises and academia. However， enterprises will face the dilemma of digitalization paradox in the process of business practice. From the perspective of technology leapfrogging theory and strategic fit theory， it explored the double-edged sword effect of enterprise digitalization on innovation performance based on the empirical data of 283 questionnaires. The result shows that there is an inverted U-shaped relationship between enterprise digitalization and innovation performance， and organization flexibility positively moderates the relations between digitalization and innovation performance. The conclusions enrich the current understanding of digitalization paradox， and provide theoretical guidance and practical inspiration for enterprises to implement digitalization.