Based　on　the　panel　data　of　30　provinces　in　China　from　2005　to　2015,　this　paper　examines　the　relationship　between　transportation　infrastructure　investment,　factor　market　distortion　and　economic　growth　by　using　a　two-way　fixed　effect　model.　The　results　show　that　there　is　a　significant　nonlinear　effect　between　transportation　infrastructure　investment　and　economic　growth,　showing　an　inverted　U-shaped　relationship,　that　is,　with　the　expansion　of　the　scale　of　transportation　infrastructure　investment,　economic　growth　first　increased　and　then　decreased.　The　sub-regional　sample　test　shows　that　there　is　a　significant　inverted　U-shaped　relationship　between　transportation　infrastructure　investment　and　economic　growth　in　the　eastern　region,　while　the　inverted　Ushaped　relationship　between　transportation　infrastructure　investment　and　economic　growth　in　the　central　and　western　regions　is　not　significant.　To　further　explore　the　impact　mechanism　of　transportation　infrastructure　investment　on　economic　growth,　this　paper　introduces　factor　market　distortion　and　finds　that　factor　market　distortions　have　negative　impact　on　economic　growth.　From　the　perspective　of　enhancing　the　driving　force　of　economic　growth,　this　paper　discusses　the　investment　scale　of　transportation　infrastructure　under　the　optimal　conditions　of　economic　growth,　which　provides　decision　support　for　the　construction　of　transportation　infrastructure　in　China.　Copyright　©　2019　by　Science　Press.