According to the theory of social network, this paper constructs a conceptual model of how social network influences entrepreneurial intention with entrepreneurial alertness as the medium in the current context of “mass entrepreneurship and innovation” Based on 237 samples of college students, the empirical study was conducted by using the structural equation model, which showed that social network and entrepreneurial alertness had significant positive effects on entrepreneurial intention. Entrepreneurial awareness plays a partial mediating role in the process of network diversity affecting entrepreneurial intention of college students, and plays a partial mediating role in the process of network strength affecting entrepreneurial intention of college students. Proactive personality and trait competitiveness positively regulate the influence of entrepreneurial alertness on college students" entrepreneurial intention. This study helps understand the potential mediating mechanism and regulating mechanism of the influence of social network on entrepreneurial intention, which has important theoretical and practical significance for promoting college students" entrepreneurship.