Abstract: Digital Financial Inclusion (DFI) has a significant spatial spillover effect on high-quality economic development. Based on the provincial panel data of China from 2011 to 2020 and with the help of systematic GMM model, this paper studies the impact of DFI on high-quality economic development, as well as the intermediary role of capital allocation efficiency, technological innovation and the regulatory role of financial development level, and further explores the spatial spillover effect of DFI on high-quality economic development. The results are as follows: (1) DFI has a significant positive impact on high-quality economic development; (2) DFI promotes high-quality economic development by improving the efficiency of capital allocation and promoting technological innovation; (3) The financial development level is the regulating variable of the impact of DFI on high-quality economic development, improving financial development level constantly is conducive to giving full play to the positive impact of DFI on high-quality economic development; (4) There is regional heterogeneity in the impact of DFI on high-quality economic development; (5) DFI has a significant spatial spillover effect on high-quality economic development.