To realize China's international development strategy for marine economy, a method is proposed to establish an index evaluation system for innovation and development ability of marine economy according to the diamond model. At the same time, the principal component analysis method is put forward for statement. First, based on the diamond model, the factors are comprehensively considered which affect the innovation and development ability of marine economy, and the evaluation indexes are determined. Then, the evaluation index data of major coastal cities in Guangdong Province are selected in the last eight years. Four principal components are extracted by principal component analysis method. Finally, the innovation and development ability of marine economy is calculated and evaluated. It is found that the innovation and development ability of marine economy increases from -0.87 in 2012 to 0.88 in 2019, suggesting a good trend of increase. It proves that the system proposed can evaluate the innovation and development ability of marine economy well. In short, the study provides theoretical support and important reference for the evaluation of innovation and development ability of marine economy.