On the basis of Chinese and foreign innovation managements, a theoretical paradigm of innovation management, overall Innovation Management (OIM) was proposed. Orienting  core competency and sustainable competitive advantages, and aiming at value creation/value added, OIM tried to realize the three "overall" and synergy by realizing overall synergy of all the innovation key elements, and by effective management mechanism and tools. By comparison of OIM with traditional pattern of innovation management, some similarities and differences were pointed out.  It was argued that OIM is a new trend of innovation management and it would be very valuable for enterprises facing the increasingly intense competition, and the challenge of individualized customer's demands.