The objective of the paper is to develop the relationship between organizational learning and innovation performance of SMEs. Thus, the paper analyzes the influencing factors and the approaches of SMEs organizational learning, and find out that organizational culture, firm members' characteristic, external environment, entrepreneur' attitude, the degree of hardworking will all affect the efficiency of organizational learning. While intra-organization and inter-organizational learning will help SMEs absorb the knowledge that valuable to the firm. Only by knowledge management can organizational learning improve innovation efficiency.