Information Technology (IT) capabilities play a fundamental role on process innovation and organizational performance. Likewise, corporate entrepreneurship (CE) plays a vital role in the improvement of performance, as the employees' profile is determinant for the success of these organizations. Previous literature relating to IT and CE reveals how little attention has been paid to relationship between these constructs, and what exists is only partial. This research conceptualizes the relationship between IT capabilities, CE, and innovation on the organizational performance. It is intended as a contribution to the ongoing conceptual development of this area and provides initial guidance for future empirical evidence. Thus, the authors advance a synthesized conceptual model in order to evaluate the influence of IT capabilities (IT flexibility, IT integration and IT alignment) to the CE process, through innovation on the organizational performance. The authors create an initial construction of the scenery grounded in past literature, which is refined and reinforced into a conceptual model advancing in theoretical development in the field. Some future research and implications are discussed.