Abstract: There is significant differentiation among research results on the relationship between product innovation and business performance. Based on the search for research documents about the relationship between product innovation and business performance from some principal academic databases, the meta-analysis concerned increasingly in management research field is used to further analyze them quantitatively and comprehensively. It not only contains homogeneity test on documents, but also explains meta-analysis on the correlation relationship between product innovation and business performance. Then the exploratory analysis is made on possible moderating elements influencing the relationship between the two.