Taking 67 overseas returnee entrepreneurial companies as a sample, the fuzzy set qualitative comparative analysis method (fsQCA) was used to investigate the impact of different configurations formed by the interaction of four types of variables: leadership style, entrepreneurial orientation, organizational structure, and team heterogeneity on the performance of overseas returnee entrepreneurial companies. The results show as follows. Firstly, there are four key paths for returnees'' entrepreneurial performance output: professional R&D path, R&D function path, functional cooperation path, and conservative function path. Secondly, high functional diversity is a necessary condition for achieving high performance in returnee entrepreneurship. Finally, educational diversity is important to returnees entrepreneurship performance has no influence. Based on this conclusion, the internal mechanism of returnee entrepreneurship performance output is enriched, and it can also provide guidance and reference for returnee entrepreneurship practice activities.