In recent years, manufacturing companies have achieved improvements in production efficiency through service-oriented transformation. This paper uses matching data from China’s industrial enterprise database and China Customs database to empirically analyze the impact of servitization of manufacturing enterprises on the position of manufacturing enterprises in the global value chain. The study finds that the servitization of manufacturing enterprises has significantly promoted their position in the global value chain. This effect is mainly achieved through two mechanisms: promoting technological innovation and increasing production costs. Based on further analysis of the Internet, it is found that manufacturing enterprises can effectively improve their position in the global value chain through deep integration with the Internet. Therefore, accelerating the service-oriented transformation of manufacturing companies and promoting the development of the industrial Internet are important ways for Chinese manufacturing companies to improve their position in the global value chain.