From the existing research, the researches on the topic of TMT social network and ambidextrous innovation is rich, scholars have conducted in-depth research on the relationship between TMT social network and corporate innovation. However, most studies just have tended to research the direct impact of TMT network on corporate innovation. Based on the social network theory and the knowledge-based view, this paper constructs a theoretical model of the influence of TMT network characteristics on ambidextrous innovation under the adjustment of institutional environment and firm nature. Taking 236 companies as samples, this paper firstly empirically tests the impact of TMT network characteristics ambidextrous innovation, and secondly tests whether knowledge creation has an intermediary role in the above relationship. Finally, it discusses the regulatory role of institutional environment and firm nature. The empirical results show that:TMT network characteristics can promote firm's ambidextrous innovation; Knowledge creation has a mediating role in the relationship between TMT network characteristic and firm's ambidextrous innovation; A good institutional environment can strengthen the positive role of TMT network characteristic in ambidextrous innovation; Compared with state-owned enterprises, the TMT network characteristics of non-state-owned enterprises are more conducive to the success of ambidextrous innovation. The above research reveals the internal mechanism of TMT network characteristics affecting ambidextrous innovation, and provides important evidence for the development of TMT network characteristics and ambidextrous innovation theory.