In a complex and dynamic environment，whether a cooperative can maintain its own competitive edge depends to a large extent on the quality of its embedded relationship network and its dynamic capabilities to cope with the environment.Based on dynamic capability theory，286 cooperatives in Guangdong Province were used as a research sample to explore the connection among embedded relationship， dynamic capabilities and the competitive edge of cooperatives.The results show that both embedded kinship and business relationship have a significantly positive impact on the competitive edge of cooperatives.Compared with kinship， business relationship has a greater impact on competitive edge.Different dynamic capabilities play a heterogeneous intermediary role between embedded relationship and competitive edge.Specifically，kinship improves the competitive edge of cooperatives by improving integration capability and innovation ability，and business relationship helps cooperatives gain sustainable competitive edge by improving acquisition capability and learning ability.The mediating effect between embedded relationship and competitive edge is negatively regulated by the environmental dynamism，and the mediating effect is more significant when the environmental dynamism is low.Therefore，cooperatives should actively cultivate internal and external relationship networks when the external environment is relatively stable，build dynamic capabilities based on relationship embedding situation，gain sustainable competitive edge，and achieve high-quality development.