Leadership decision efficiency is the key factor influencing enterprises’ benefit and sustainable development. Thus improving the leadership decision efficiency is an important way to enhance the core competitiveness of the enterprises. In order to explore the factors influencing leadership decision efficiency and the relationship among different factors in petroleum enterprises, some hypotheses are proposed based on the analysis of the factors influencing leadership decision efficiency, and a structural equation model of the factors is constructed. Then the hypotheses are tested by applying the structural equation model by means of questionnaire survey results. The empirical results show that the following three factors have significant impacts on leadership decision efficiency in petroleum enterprises; decision information, authority and corporate culture. Among the above mentioned factors, authority is the main influencing factor. In addition, governance structure and decision making systems indirectly affect the leadership decision efficiency in petroleum enterprises. The research results provide guidance and reference for the management of key factors and control of the leadership decision efficiency in petroleum enterprises.