In order to effectively evaluate the regional industrial S&T innovation capability, an evaluation index system integrating absolute value indexes and average value indexes was constructed. Based on the latest data of 28 regions from 2014 to 2017, the weights of indicators were determined by CRITIC method and the current situation and development of industrial S&T innovation capability in 28 regions were identified by TOPSIS method from two perspectives of "static" and "dynamic" evaluation. It is found that technology introduction, independent innovation, R&D personnel and funds, R&D project activity, and the transformation of S&T achievements are always the important factors affecting the upgrading of regional industrial S&T innovation capability. The results of "static" evaluation show that China's industrial S&T innovation capability is general as a whole, with great regional differences. Only six provinces and cities namely Guangdong, Jiangsu, Shanghai, Beijing, Zhejiang and Shandong are "very strong" and "strong". The results of "dynamic" evaluation show that there is obvious regional dependence in the development of industrial S&T innovation capability, the pattern of strength and weakness is relatively stable, and it is difficult to change in short term. The research results also show that the index system and model presented can effectively evaluate the regional industrial S&T innovation ability. Finally, combined with the important affecting factors, some suggestions were given to improve the innovation ability of industrial S&T.