With technology market thickness and congestion as mediating variables, panel data econometric model is constructed to reveal internet development influence on technological innovation efficiency of high-tech industry and empirically evaluate the direct, indirect effects. Results are as follows. Firstly, during 2009-2019, technological innovation efficiency varies at the range [0.1932, 0.4043] and there is rising trend. Efficiency in the achievement transformation stage is significantly more than that in the knowledge production stage. Secondly, from theoretical aspect, its direct influence on technological innovation activity of internet development is analyzed in details. Moreover, internet development can affect technological innovation activity through technological market development which the two main mediating pathways are market thickness and congestion variation. Three hypotheses are to be examined. Thirdly, empirical regression results show that three hypothesis are true for high-tech industry. Internet development not only can affect technological innovation efficiency significantly in a direct and positive way, but also can influence it by the two mediating ways. Regional heterogeneity should not be ignored among eastern, middle and western China. “Internet plus technological market” strategy should be an important direction for high-tech industry to stimulate its technological innovation resource distribution optimization.