Abstract: Cooperation of industry-university-research is the key for China to build innovative country and drive sports industry development by innovation. In order to promote the key dynamic factors of sport industry-university-research collaborative innovation, the paper proposes a dynamic mechanism model of sport industry-university-research collaborative innovation. Based on the survey of Chinese sport enterprises, the results show that: 1) The external dynamic that driving sport industry-university-research collaborative innovation is the dynamic environment, which mainly includes technology push and market pull; 2) The internal dynamic that driving sport industry-university-research collaborative innovation is the organizational dynamic capability, which mainly includes organizational learning capability and relationship capability; 3) sport industry-university-research collaborative innovation is the result of external dynamics combined with internal dynamics, the external dynamic plays a role through the internal dynamic. The research results make up the deficiency of the literature about collaborative innovation of sport industry-universityresearch and provide an empirical evidence for dynamic mechanism that driving sport industry-university-research collaborative innovation. This paper also provides some strategical suggestions on how to cultivate and create effective external and internal dynamic environment for Chinese sport industry-university-research collaborative innovation.