Promoting the coordinated development of ecological environment and technological innovation is significant to the development of a green economy. In this study, we construct an index system of ecological environment, technological innovation, and green economy based on the panel data of 30 provinces and cities in China from 2005 to 2016, using the entropy weight method, the coupling coordination model, and the panel vector autoregressive model (PVAR) to calculate the comprehensive development levels of ecological environment, technological innovation, and green economy and the coordination degree between ecological environment and technological innovation, and then further explore the impact of the coordinated development level of ecological environment and technological innovation on the development of a green economy. The research results include: First, from 2005 to 2016, the comprehensive development levels of ecological environment, technological innovation, and green economy in China’s 30 provinces and cities achieved different degrees of improvement as a whole. Among them, the comprehensive development level of green economy was the highest, followed by the development level of technological innovation, and the comprehensive development level of ecological environment was the lowest. Second, from 2005 to 2016, the coordination degree between ecological environment and technological innovation in China’s provinces and cities increased year by year, but on the whole, the coordination degree between ecological environment and technological innovation in various regions was in a state of imbalance. Third, there was a long-term equilibrium relationship among the coordinated development levels of ecological environment, technological innovation, and green economy. Fourth, through pulse analysis and Monte Carlo simulation, we found that the coordinated development level of ecological environment and technological innovation had a lagging positive impact on green economy. Finally, we provide a summary of the results of this study.