This article is based on the perspective of human capital accumulation, and for the first time analyzes the impact of income inequality on the total factor productivity from a supply perspective, and conducts empirical tests. Research has found that the impact of income inequality on human capital accumulation varies among different social classes at different levels: the accumulation of human capital among low-income groups is negatively correlated with income inequality, while the accumulation of human capital among high-income groups is positively correlated with income inequality. Further theoretical and empirical analysis reveals that, based on the mediating role of human capital, there is an overall inverted U-shaped relationship between income inequality among residents and total factor productivity.This means that the moderate narrowing of the income gap is conducive to the improvement of total factor productivity and high-quality economic development. Therefore, in order to better improve total factor productivity and achieve high-quality development, this article proposes corresponding countermeasures and suggestions from the perspectives of adjusting the income gap of residents reasonably, increasing education investment, expanding openness, and improving marketization level.