High-tech enterprises are important economic subjects of high-quality full employment, and their development cannot be separated from the support of S&T finance. Based on this, through the provincial panel data from 2010 to 2022, the way in which the development of S&T finance promotes the labor demand of high-tech enterprises was explored. It finds that the development of S&T finance has a significant positive driving effect on the labor demand of high-tech enterprises, with technological progress, extensive margin, and intensive margin as the effective conduction channels. At the same time, this effect presents significant heterogeneity characteristics, specifically in four terms high-skilled and low-skilled labor, regions with a higher degree of development of science and technology business incubators, regions with more active technology markets, and regions with intellectual property policy support. In addition, the positive moderating effect of S&T talent supply and entrepreneurship, and the negative moderating effect of government forfeitures are also found. Given this, the development of S&T finance should be promoted to facilitate technological innovation, improve entrepreneurship, help enterprises grow, and play the role of incentives of various policies and systems, to realize the financial contribution to high-quality employment.