Abstract <p>In the context of digital transformation of economic processes and accelerated technology development, innovation management is becoming a key factor in ensuring sustainable growth and competitiveness of organizations. The purpose of the present study is to substantiate approaches to innovation management in the digital economy, as well as to develop an author’s model that takes into account the transformational challenges and opportunities of the digital environment. The methodological basis of the research is the synthesis of systems, process, and institutional approaches, as well as methods of comparative analysis, classification, and modeling. The conducted analysis of contemporary theoretical and practical approaches to innovation management has revealed the limitations of traditional models in the digital context. Based on the conducted research, the author’s classification of innovation management models have been proposed and an adaptive model focused on the use of digital metrics, platform solutions, and flexible organizational structures has been developed. The empirical part of the study includes an assessment of the factors of digital maturity that affect the effectiveness of innovation, as well as an analysis of the relationship between the level of digitalization and the type of management model. The results of the study make it possible to expand scientific understanding of innovation management mechanisms in the digital economy and can be used in the development of digital transformation strategies at the enterprise and industry levels.</p>