Entrepreneurship has been recognized as an important factor contributing to firm success. Despite the potential benefit of corporate entrepreneurship to sustain the family firm across generations, corporate entrepreneurship has been underresearched in the family firm literature. We investigate how generational involvement, willingness to change, and the ability to recognize technological opportunities impact corporate entrepreneurship in family firms. We also examine strategic planning in family firms as a facilitating process. Our findings suggest that willingness to change and technological opportunity recognition are positively related to corporate entrepreneurship in family firms. We further found strategic planning to significantly moderate the relationships between (1) generational involvement and (2) technological opportunity recognition and corporate entrepreneurship. These findings and implications for management and research are discussed.