With the multi-wave questionnaire survey from members and supervisors of 53 teams, the present study examined the effects of differentiated transformational leadership (DTFL) on team performance, especially the sequential mediational roles of team high-activation pleasant affective tone and team process. The results of regression analysis indicated that:(1) DTFL was negatively correlated with team high-activation pleasant affective tone; (2) team high-activation pleasant affective tone was positively related to team process; (3) there was a significant positive correlation between the team process and the team performance evaluated by leaders; (4) DTFL had a negative effect on team performance through team high-activation pleasant affective tone and team process sequentially.