Abstract: It is of great significance to promote high quality development of agricultural enterprises by developing new quality productive. Based on Marx's theory of three elements of productive and the concept of new quality productive, this paper constructs the index system of new quality productive of agricultural enterprises, and uses the entropy method to measure new quality productive of agricultural enterprises. The panel data model of 110 listed agricultural enterprises was used to examine the impact of business model innovation on new quality productive of agricultural enterprises. Based on dynamic capability theory and institutional theory, this paper analyzes the mediating role of dynamic capability and the regulating role of institutional environment. The research results show that: new quality productive of agricultural enterprises is low on the whole, and the difference of agricultural enterprises is great. Business model innovation has a significant positive impact on new quality productive of agricultural enterprises. Dynamic capability plays a mediating role between business model innovation and new quality productive of agricultural enterprises. The institutional environment positively regulates the promotion effect of business model innovation on new quality productive of agricultural enterprises. The impact of business model innovation on new quality productive of agricultural enterprises is significantly differentiated in property rights and subdivided industries. The research results deepen the understanding of the relationship between business model innovation and new quality productive of agricultural enterprises, and provide theoretical guidance for guiding agricultural enterprises to actively implement business model innovation and achieve high-quality development.