Using A-share listed companies that granted stock options to managers from 2010 to 2021 as the sample, this study employs propensity score matching and a difference-in-differences model to examine the causal relationship between managerial stock option incentives and corporate social responsibility (CSR). The results show that managerial stock options have a significant positive effect on corporate social responsibility. Further analysis reveals that the performance-based incentive effect of stock options, rather than the risk-taking effect, plays a dominant role. The positive relationship between the performance-based incentive effect of stock options and corporate social responsibility is more pronounced when the incentive duration is longer, the performance pressure associated with option exercise is lower, and external media monitoring is stronger. Moreover, stock options improve corporate social responsibility performance by mitigating managerial myopia. Finally, combining stock options with corporate social responsibility objectives contributes to enhancing firm value.