With China’s economic development entering a new normal, high-quality regional economic development has become an important goal of current economic development. As one of the important means to promote high-quality development of the regional economy, industrial policies are increasingly receiving attention in terms of their role and impact. This article mainly conducts an in-depth analysis of the mechanism and impact path of industrial policies, exploring the role and impact of industrial policies in promoting high-quality regional economic development. Firstly, industrial policies play an important role in promoting high-quality regional economic development. Secondly, the impact path of industrial policies on the high-quality development of the regional economy mainly includes promoting industrial structure upgrading, promoting technological innovation, guiding resource allocation, and enhancing enterprise competitiveness. Therefore, it is necessary to increase research and practice on industrial policies, continuously optimize policy measures, and promote high-quality development of the regional economy.