As the economy enters a new stage, the phenomenon of industrial-financial integration exiting the market has become a new trend in the capital market. Based on the data of listed companies from 2011 to 2022, this study empirically tests the impact of industrial-financial integration exit on digital transformation and the underlying mechanisms. The study finds that industrial-financial integration exit can promote corporate digital transformation. The mechanism analysis shows that industrial-financial integration exit enhances corporate governance, curbs short-sighted management, and reduces financial risks to promote corporate digital transformation. The heterogeneity analysis shows that in large-scale, state-owned, high-tech, high-level technology market, and high economic policy uncertainty companies, the promotion of digital transformation by industrial-financial integration exit is more significant. The study conclusions provide some reference for preventing and resolving corporate operational risks, and are of great significance for helping enterprises achieve transformation and upgrading and achieving high-quality development goals.