With the rapid development of the digital economy in China, digital transformation’s impact has penetrated various industries and enterprises. Manufacturing is the main body of the national economy and the country’s foundation. the digital transformation is more important for manufacture enterprises, at the same time, human capital is also an essential factor in promoting digital transformation. Based on this background, this paper analyzes the impact results and mechanism of digital transformation on human capital. Taking Shanghai A-share prominent companies from 2014 to 2020 as the research object, this paper conducts an empirical study on the impact of digital transformation on human capital, constructs A benchmark model, and tests the robustness of the conclusion. It is found that digital transformation can promote human capital investment. Finally, according to the research conclusions, this paper puts forward suggestions for improving enterprise human capital from three aspects: enterprise, government and individual.