The results from subgroup regression analysis of the high-tech listed companies show that intellectual capital not only has a significant influence on corporate value creation, but also has a significant influence on the perception and evaluation to companies’ market value by capital market. Company’s life cycle indeed has significant effects on the relations between intellectual capital and corporate value. In different stage of life cycle, intellectual capital plays different roles in value creation and realization. The overall IC plays the most important role in the maturing stage of companies. While in the growth stage, human capital and innovation capital are the main elements of value creation and they both significantly enhance corporate value. In the stagnant stage, human capital becomes the main factor to enhance corporate value. Therefore, basing on specific stage of companies life cycle managers should make appropriate strategies to invest and manage Intellectual capital to maintain competitive advantage in the complex and competitive environment.