Creating a first-class business environment is the inherent requirement of high-quality economic development. Based on the World Bank’s business environment index and the panel data of 114 countries in the world from 2006 to 2019, this paper uses Tobit regression method and mediation effect model to empirically study the impact of business environment on high-quality economic development. The results show that: from the full sample regression results, the total business environment index significantly promotes the high-quality development of the world economy; from the regression results of 10 sub indicators of business environment, all sub indicators such as starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, executing contracts and handling bankruptcy also significantly promote the high-quality economic development; from the results of sub sample regression between developed and developing countries, business environment significantly promotes the high-quality economic development of developed countries and developing countries, but business environment has a more significant effect on the high-quality economic development of developing countries. The results of the mechanism test show that the business environment has a positive impact on high-quality economic development through the inflows of high-quality capital and technological innovation. The policy enlightenment of this paper is that continuous optimization and improvement of business environment is an important focus of building a new development pattern and promoting high-quality economic development under the era background of China's economy entering a new stage of development.