Based on the A-share listed companies of China in M&A from 2010 to 2013, this paper empirically investigates the impacts of financial independent directors on executive personal benefits, executive overconfidence and M&A performance. The results show that financial independent directors have a significant positive impact on M&A performance of firms. Both executive personal benefits and executive overconfidence will result in a decrease in the performance of firms after M&A. Financial independent directors can improve M&A performance of firms through restraining executive personal benefits and executive overconfidence. Meanwhile, the age, academic background of the financial independent directors will play a significant role in improving M&A performance.