With the deepening of financial globalization and the development of the financial market, the innovation of financial instruments keeps emerging, bringing new opportunities and challenges to the financial management of enterprises. Facing severe market competition, enterprises need to make full and effective use of financial instrument innovation management to control risks, strive for benefits, so as to stand out. Starting from the meaning of financial instrument innovation, this paper analyzes the impact of financial instrument innovation on enterprise financial management, and finally gives some suggestions for enterprises to effectively use financial instrument innovation.