This paper measured the technological innovation efficiency of colleges and universities in different provinces and its exogenous influential factors based on knowledge production function during 2001-2009 by using an estimation procedure of stochastic frontier analysis method. Our conclusions show that the technological innovation efficiency of colleges and universities is overall low, and there are remarkable regional differences, but the efficiency has been improving in recent years. Competitive environment, regional economic development, ability to acquire social capital will promote the innovation efficiency, and geographic location also affect the technological innovation efficiency, but the effect of human resource environment is negligible.