PurposeThe present study aims to examine the effect of learning orientation (commitment to learning, shared vision, open‐mindedness) on the product innovation performance (product innovation efficacy and efficiency) of companies in Turkey.Design/methodology/approachA structural equation‐modeling approach was applied to identify the variables that significantly affected the product innovation performance. Using LISREL 8.54, the data collected from 150 companies were used to test the proposed research model.FindingsEmpirical testing of the research model revealed that open‐mindedness was the sole predictor of product innovation efficacy as well as efficiency. However, the effects of shared vision and commitment to learning on the product innovation performance were found to be insignificant.Practical implicationsRelevant implications are provided for management as to how to improve product innovation performance.Originality/valueThe present study puts forward a theoretical model that identifies and explains the relation between the learning orientation and product innovation performance of companies operating in Turkey.