Migrant workers’ returning entrepreneur is not only helpful to their income growth and employment but also conducive to their self-value realization, and encouraging migrant workers to entrepreneur becomes an important measure for boosting “massive entrepreneur and multitude innovation”, new type urbanization and economic growth. Based on the theory of social capital and entrepreneurial learning, this paper divides entrepreneur performance into such two dimensions as fiscal performance and growth performance to discuss the mechanism of the influence of strong or weak ties and entrepreneurial learning on the entrepreneurial performance of the returning migrant workers. From the 258 questionnaires of Hunan migrant workers returning entrepreneur, the empirical analysis shows that there is significantly positive correlation between strong ties of returning migrant workers and their fiscal performance but the weak ties affect their growth performance, that strong/weak ties of migrant workers have a significantly positive impact on their entrepreneurial learning, and that entrepreneurial learning has a positive effect on entrepreneurial performance and has a positive mediating effect between strong/weak ties and entrepreneurial performance. China should emphasize the construction of social relation network of returning entrepreneur migrant workers, boost the double embeddedness of strong/weak ties, actively cultivate and raise their entrepreneurial learning ability, and further effectively improve the entrepreneurial performance of China’s returning migrant workers.