The major objective of the study is to examine the effect of innovation management on sustainable competitive advantage. The cross-sectional survey research design method was adopted for the study. The study adopted the simple random and stratified random sampling technique. The study used structured questionnaire as instrument of data collection. To establish the reliability of the instrument, a test-retest method was employed. The descriptive statistics, correlation and multiple regression analysis was used. Findings showed that 48% of the change in sustainable competitive advantage is brought about by innovation management in the Nigerian deposit money banks. Findings indicated that innovative capability, innovation strategy, and innovation culture have significant positive relationship with sustainable competitive advantage. This study determined that innovation management has influence on sustainable competitive advantage in the Nigerian deposit money banks. The study recommended that for innovation management process to be successful, it is essential that the company support an innovation culture and make employees feel valued.