In the last decades, special attention has been paid to improving innovation capacity and performance measurement and evaluation models, and researchers have been defining new key indicators and factors behind the innovation performance throughout the innovation process. In light of the previous works carried out within the scope of Balanced Scorecard (BSC) theoretical framework and the multicriteria decision-making (MCDM) methods, this dissertation aims to propose a model for measuring and evaluating organizations innovation capacity and performance adhering to the following principles: multi-dimensional structure, stakeholder goals orientation, cause-effect relationship analysis, innovation process orientation, and easy implementation and use. In line with these principles, the proposed model combines the BSC methodology with the Analytic Network Process (ANP) method in a hybrid methodological approach. It considers the interdependencies between the key innovation indicators classified according to the four perspectives of the BSC to calculate the global innovation capacity and innovation performance indexes. The applicability of this model could be demonstrated in the context of an innovative electricity generation company in Brazil. The conceptual model here proposed and the empirical results concerning an application in a corporate context may contribute to improving current innovation capacity and performance measurement practices. The integration of the ANP method into the BSC framework can be considered a differential in comparison to the current practices of measuring the innovation capacity and performance in organizations.