Abstract: Developing a green economy is key to achieving the 2030 Sustainable Development Goals. This paper uses the SBM-GML index, which includes non-desired outputs, to measure the trend of regional green economic efficiency changes and analyze the impact mechanism and realization path of industrial transformation on green economic efficiency. The research results show that advanced industrial structure has a positive influence on green economic efficiency nationwide, while energy utilization structure and energy utilization efficiency have positive partial intermediary effects in the influence path; industrial structure rationalization is also significantly positively related to green economic efficiency nationwide, and the mediating effect of energy utilization is positive. The impact of industrial transformation on green economic efficiency has regional heterogeneity, and the mediating effect of energy use also differs. Among them, the impact effect in the eastern region is basically consistent with the national sample, but is negative in the central and western regions. This paper proposes countermeasures in terms of adjusting the industrial structure, improving energy efficiency, and perfecting industrial and energy policies, which can provide theoretical and practical references for promoting the transformation and upgrading of regional industrial structure, optimizing energy utilization, and advancing the efficiency of the national and regional green economy.