With the advancement of urbanization, returned migrant workers have gradually become a group that cannot be ignored, as they play an important role in the implementation of the rural revitalization strategy. When they are in cities, they are able to acquire knowledge and skills, thereby enhancing their human capital stock and facilitating their entrepreneurial activities after returning home. Their entrepreneurial ability consists of opportunity ability and operational management ability. The accumulated human capital includes knowledgebased human capital and skillbased human capital. In the logical framework of “work experiencehuman capitalentrepreneurial ability”, this paper uses the structural equation model, borrows the data obtained by our team in Anhui, Jiangxi and other provinces to conduct an empirical analysis of the relationship between the three. The results show that the number of jobchanging migrant workers in cities has a positive impact on the accumulation of knowledgebased human capital and skillbased human capital; both knowledgebased human capital and skilledbased human capital have a positive and almost the same impact on their entrepreneurial ability; the skillbased human capital has a greater positive impact on their operational management ability.