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Entrepreneurial orientation has been recognised as a key driver for bolstering a firm's core competitiveness and fostering the creation of novel advantages. However, the efficacy of entrepreneurial orientation in enhancing the high-tech firm performance has been a controversial issue. We propose an ‘orientation-learning-innovation-performance’ model, which employs the concepts of ambidextrous learning and business model innovation to explore the effects of entrepreneurial orientation on high-tech firm performance within a dynamic environment. PLS-SEM was used to test data gathered from 291 high-tech firms. The results reveal that entrepreneurial orientation does not exert a direct influence on high-tech firm performance, while the mediation role of exploitative learning is not significant. Entrepreneurial orientation mainly influences high-tech firm performance through exploratory learning, ambidextrous learning and business model innovation. This influence is further amplified in contexts characterised by environmental dynamism. Our findings contribute to the literature on entrepreneurial orientation and organisational learning theory, providing insights that firms can use to enhance efficiency and maintain a competitive advantage. [ABSTRACT FROM AUTHOR]