Based on survey data from 195 hightech enterprises in China, this paper analyzes the effect of alliance orientation and entrepreneurial orientation on firm performance and moderating effect of entrepreneurial orientation and environmental dynamism on the relationship between alliance orientation and firm performance. Research results show that alliance orientation and entrepreneurial orientation have significantly positive effect on firm performance. Moreover, entrepreneurial orientation and market dynamism positively moderate the relationship between alliance orientation and firm performance while technological dynamism negatively moderates the relationship between alliance orientation and firm performance.