The objective was to analyze the relationship between innovation and knowledge management with the social capital held by organizations. The research design was cross-sectional-causal, with a single cut in 2014, through a probabilistic random sample of organizations from all economic sectors in the city of Chihuahua, measuring three major constructs: 1) Organizational Social Capital; 2) Knowledge management and 3) Organizational Innovation, with interval scales designed for this purpose. The sample information was subjected to an exploratory factor analysis to detect underlying structures in the data, and then the theoretical model with structural equation was contrasted under a Factorial Confirmatory Analysis. The results suggest that organizations with high levels of social capital can maintain high knowledge management capabilities and therefore promote to a greater extent organizational innovation. It was also found that the two most important factors to increase innovation within an organization are trust between personnel, and information management.