Abstract: With the rise of a new round of scientific and technological revolution and industrial transformation, scientific and technological innovation has not only become the main driving force for high-quality economic and social development, but also a key support for promoting common prosperity for all people. Scientific and technological innovation has demonstrated its unique advantages in promoting economic growth, promoting shared development, optimizing the allocation of productive factors, and enhancing people's happiness. It is of great significance for making the "common prosperity cake" bigger, better, and well distributed. However, at present, promoting common prosperity through scientific and technological innovation is also faced with many difficult problems, such as the lack of momentum for scientific and technological innovation to help the economy become prosperous, new inequalities spawned by the scientific and technological division, the negative effects of scientific and technological innovation on employment, and the impact of technological dependence on people's spiritual lives. In the new journey of development, hard work must be done to comprehensively enhance the capacity for independent innovation, adhere to the orientation of science and technology for the benefit of the people, improve the construction of science and technology laws and regulations, and strengthen the guidance of value and cultural supply, so as to constantly guide scientific and technological innovation for better, effective and substantial progress of common prosperity.