Design thinking (DT) is gaining ground among academics and practitioners as a means to improve the innovativeness of organizations. However, with few exceptions, DT studies are most entrenched in practice rather than theory-driven research. This weak tie between theory and managerial practice calls for delving into the dynamics of DT for innovation to build stronger foundations for future studies. Therefore, this study provides a theory-based framing of DT for innovation and a critical review of the DT literature to reconcile theory and practice.