Using the DEA-Malmquist model based on input-oriented, the innovation efficiency of China's "21st Century Maritime Silk Road" is measured from both static and dynamic perspectives, and empirical analysis is carried out. The research shows that:①The overall comprehensive innovation efficiency of the region has not reached DEA optimal, but the “One Belt, One Road” initiative has a certain positive impact on the improvement of innovation efficiency; Except Zhejiang Province, The innovation efficiency of Shanghai, Fujian, Guangdong and Hainan has not reached DEA optimal, the reason is composed of two aspects: input redundancy and invalid innovation scale. ②The regional innovation efficiency is generally stable, with the exception of Hainan, the other four provinces and cities have achieved growth.