In recent years, there have been frequent issues with the safety of agricultural products. However, enterprises can ensure the quality and safety of agricultural products by adopting traceability technology. Based on the technology-organization-environment (TOE) research framework, a theoretical model of the influencing factors of enterprises’ adoption of agricultural product traceability technology was constructed. Technological factors included relative advantages (RA) and complexity (CX). Organizational factors included perceived benefits (PB), cost (Cost) and upper management support (UMS). Environmental factors included competitive pressure (CP) and supplier support (SR). The model explored the impact of these three types of factors on the adoption of traceability technology. The data was sourced from a survey questionnaire of 204 enterprises in China. The research results showed that organizational factors such as supplier support, upper management support, and cost had significant direct effects on the adoption of traceability technology by enterprises. However, the direct impacts of the relative advantages and complexity of technological factors, as well as the competitive pressure and perceived benefits of environmental factors, on the adoption of traceability technology by enterprises were not significant, and only indirect effects can be observed. The research proposed three suggestions for enterprises to adopt and governments to promote agricultural product traceability technology: strengthening the promotion to senior management personnel, reasonably controlling complexity and costs, and evaluating the conditions for adopting traceability technology.