As an important organizational innovation resource in the era of industrial economy, the role of top management team’s social capital in digital technology enabling enterprise innovation is not clear. Based on the digital empowerment theory and the social capital theory, this paper examines the promotion effect of digital technology application to enterprise innovation by using the data of China’s A-share manufacturing listed companies from 2008 to 2018. Then, this paper discusses the role of top management team’s social capital in the process of enabling innovation, as well as the differential influence and its internal mechanism of top management team’s social capital in three different dimensions of institution, business and technology. The results show that: The application of digital technology promotes enterprise innovation, and the innovation enabling effect is more significant when the level of top management team’s social capital is low, which helps enterprises with relatively weak resource base to achieve inclusive growth. There are differences in the influence of top management team’s social capital in different dimensions in the above-mentioned process of digital technology enabling enterprise innovation: In enterprises with relatively low level of top management team’s social capital in institutional and business dimensions, the role of digital technology application in promoting innovation can be fully realized; this innovation enabling effect is more prominent in enterprises with relatively high level of technical dimension top management team’s social capital. The resource support and information advantages related to top management team’s institutional social capital and business social capital “crowd out” the role of digital technology application in promoting innovation, and its negative effects such as “resource curse” and “network lock-in” also limit the effective integration of digital technology and enterprise innovation activities to a certain extent. The professional knowledge and ability contained in top management team’s technical social capital can provide support and guidance for the full realization of the role of digital technology application in promoting innovation. The conclusions of this paper enrich the theoretical exploration of the internal logic between application of digital technology, organizational resource base and enterprise innovation, depict the boundary conditions of the innovation enabling effect of digital technology in detail, and provide theoretical guidance for the innovation strategy reform in the digital economy era.