Abstract From different perspectives, this study proposed a dynamic inverted U-shaped relationship between eco-innovation and economic performance and empirically justified it. Further, the moderate effect of organizational learning, a complementary asset, on the process from “Green” to “Gold” in company was examined. The empirical result showed that there is a U-shaped relationship between eco-innovation and economic performance in the company with high organization learning level. It was found that the moderate effect of organization learning on relationship between eco-innovation and economic performance was conducted by environmental performance (an important variable in eco-innovation which makes eco-innovation different from other innovation).