To achieve carbon peaking and carbon neutrality goals, the application of digital technology has become an important way for enterprises to promote green innovation. Relying on resource-based theory, taking the data of China’s A-shared listed companies between 2009 and 2019, this study focus on how digital transformation affects the green innovation of Chinese corporations. The results show that: corporate digital transformation can positively promote green innovation. The results show that: corporate digital transformation can positively promote green innovation. State-owned enterprises have a stronger impact on promoting green innovation through digital transformation than private enterprises, and the institutional environment positively moderates the relationship between digital transformation and green innovation, while strategic risk-taking plays a negative moderating role in digital transformation and green innovation. Furthermore, the mechanism tests indicate that technological capital and financing constraints played a mediating effect between corporate digital transformation and green innovation. The heterogeneity analysis shows that the impact of digital transformation on the promotion of green innovation is more significant in the context of East China’s companies, companies with innovative collaborations and companies with a higher proportion of party members in top managers. The findings have important implications for digital technology application and green transformation of Chinese enterprises.