How to promote enterprises to participate in green innovation is the key to alleviate environmental problems. Although this question has attracted increasing attention, there is a lack of in-depth discussion on the impact of the external environment on green innovation, especially the role of the marketization process. In view of this, taking Chinese listed companies from 2007 to 2019 as samples, this paper analyzes the relationship between the marketization process and enterprise green innovation, and further explores the moderating impact of environmental uncertainty and organizational slack. The results show that the marketization process has a positive impact on green innovation. In addition, environmental uncertainty enhances the positive relationship between the marketization process and green innovation, while organizational slack plays a negative moderating role. Therefore, it is necessary for the government to further improve the degree of marketization, which could create a good business environment for the development of enterprises.