Aiming at the problem of identifying key elements for modernizing the governance of vocational education, the article proposes an element identification model based on the improved BiLSTM-CRF, which carries out the improved BERT design based on the Attention mechanism, the improved design based on the local location information, the improved design based on the global attention mechanism, and the improved design based on the LSTMDecoder, respectively. Then we analyze the key elements affecting the modernization of the governance capacity of vocational education, and explore the promotion path of the modernization of the governance capacity of vocational education from five perspectives: governance concept, governance system, governance resources, governance tools and governance mechanism. By using the QCA method to analyze the multiple key factors affecting the modernization of vocational education, it can be found that in the analysis of the condition combination path of sustainability innovation, the modernization of vocational education governance can be classified as organization-driven (H1), internal and external coupling (H2) and resource-enabling (H3), of which the resource-enabling group consistency is 0.8009, the unique coverage rate is 0.069, and the original coverage 0.2436. In this path model, the local economic development conditions and innovation resource input are more adequate.