Based on the time series data of China’s high-tech manufacturing industry from 1997 to 2019, and based on the theoretical analysis, the least square method, the two-stage least square method of instrumental variables, the mediating effect and the threshold effect model were used to conduct an empirical study on how technological innovation and industrial upgrading affect industrial resilience. The results show that technological innovation has a positive effect on the resilience of high-tech manufacturing industry. It has a stronger positive effect on impact resilience. Industrial upgrading plays a mediating role in the positive effect of technological innovation on industrial resilience, and there is an indirect effect that technological innovation enhances industrial resilience through promoting industrial upgrading. Industrial upgrading has a stronger mediating effect on fracture resilience than impact resilience. Industrial resilience can be used as threshold variables, and plays a threshold effect in the promotion of technological innovation and industrial upgrading on industrial resilience. Under the high level of industrial resilience, the positive promoting effects of technological innovation and industrial upgrading on industrial resilience are enhanced. The research conclusions provide policy enlightenment for the high-tech manufacturing industry to enhance the level of industrial resilience and promote the construction of manufacturing power.