This paper takes listed agriculture-related enterprises as the research object, and uses the relevant data from 2016 to 2021 to measure their innovation efficiency using three-stage DEA, and uses fixed effects to explore the influence of bank competition on the innovation efficiency of agriculture-related enterprises. The results show that banking competition promotes the innovation efficiency of agriculture-related enterprises; Considering the mechanism of influence, the intensification of banking competition fosters the innovative efficacy of agricultural enterprises through the mitigation of their financing constraints; At the same time, the competition of banking industry mainly promotes the improvement of innovation efficiency of downstream agriculture-related enterprises. In this paper, after the endogeneity test, the robustness test such as replacement of explained variables and delayed explanatory variables is carried out, and the conclusion is still valid. Finally, this paper presents policy recommendations spanning three distinct domains: the government, banking sector, and agricultural enterprises; This study offers empirical insights and strategic recommendations aimed at enhancing the innovation prowess of agriculture-related enterprises, thereby solidifying their pivotal role in driving agricultural science and technology advancements.