According to the limitations of existing innovative design methods, a research ideology was proposed, namely man-machine intelligent collaboration. Based on this ideology, the characteristics of information exchange between human information processing system and external design environment was analyzed, and the inherent mechanism of man-machine intelligent collaboration was explored. Moreover, some cognitive principles that the support system should follow were put forward. In terms of the characteristics of product design, incorporating cognitive science, information technology, and design technology, a computer-aided innovative product design process was presented. Finally, a preliminary prototype system of computer-aided design for product innovation was developed based on the theoretical researches aforementioned and some running instances of the prototype system were described.