Abstract Background: The ever-changing world, specifically the healthcare system, makes an urgent need for academically ambidextrous leaders who drive innovation among faculty members through promoting both explorative and exploitative behaviors. Aim: Explore the relationship between academic ambidextrous leadership, faculty members’ ambidexterity, and innovative performance. Design: Descriptive correlational study design. Setting: This study was conducted at the Faculty of Nursing of Tanta University. Subjects: All available (n = 150) faculty members, including demonstrators, assistant lecturers, and lecturers. Tools: Three tools were utilized: Ambidextrous Leadership Questionnaire, Faculty Members’ Ambidexterity Behaviors Questionnaire, and Faculty Members’ Innovative Performance Self-Report Questionnaire. Results: A high percent (68.7%) of faculty members perceived a high academic ambidextrous leadership level. Also, the majority (88.7% & 78.7%) of them showed high levels of ambidexterity and innovative performance, respectively. Conclusion: There were statistically significant positive correlations between academic ambidextrous leadership, faculty members’ ambidexterity and their innovative performance. Recommendations: Academic leaders’ continuous adoption of ambidextrous leadership behaviors as a philosophy that promotes work values, ethics, and academic innovation.