Institutions of Higher Learning (IHL) in Malaysia are recognized as the core of new innovation development. This paper empirically studies one of IHLs in Malaysia with the objectives to gauge the perceived important level of success factors for innovation management, and to examine the relationship between innovation management success factors versus innovation performance. Descriptive statistical analysis and Pearson correlation test are used to validate the preliminary research framework. Finding from the study presents an interesting managerial implication where success factor that perceived as the most important is not strongly correlated with innovation performance. Suggestions to enhance the innovation performance are proposed, which comprising securement of greater research funding, expanding number and scope of collaboration or cooperation with external parties as well as continuously upgrading and enhancing the level of expertise. Finally, a revised framework of innovation performance management for Research University is proposed bases on literature review and complemented by the result of this study.