Environmental credit evaluation policy is a new governance tool under the pressure of eco-environment governance and green transformation of economy. Taking the implementation of environmental credit evaluation policy as a “quasi-natural” experiment and using the Chinese A-share listed companies between 2008 and 2019 as samples, we constructed a DDD model to empirically evaluate the impact of environmental credit evaluation policy on the green total factor productivity of enterprises. The results show that environmental credit evaluation policy significantly improves the green total factor productivity of enterprises. The impact mechanism shows that green technology innovation and green resource acquisition play a mediating role in the improvement of green total factor productivity of enterprises by using the environmental evaluation assessment policy. Further analysis shows that the positive correlation between environmental credit evaluation policy and green total factor productivity of enterprises are more significant in the regions with strict government supervision environment, industries with fierce market competition environment and regions with better social trust environment. This study provides scientific evidence of the economic consequences of the environmental credit evaluation policy and enriches the literature on the driving factors of the green total factor productivity of enterprises. It plays a constructive role in further promoting the environmental credit evaluation policy by government departments, actively guiding enterprises to implement more friendly environmental behaviors, and helping to realize sustainable development of economy.