The study on the mechanism of co-creation and digitalization of the value of logistics ecosystem is of great value to the healthy development of the whole logistics industry and related industries. Based on the case study of Cainiao network, this paper reveals the mechanism of value co-creation and digitalization of logistics service ecosystem by taking root method. It is found that the value of logistics service ecosystem is co-created and co-coordinated, and the composition of the dimensions presents multi-level unity and different levels. The dynamic interactive evolution of the digital capability of logistics enterprises in different structural levels. The co-creation of multi-level value of service ecosystem plays an active role in promoting the digital capability of logistics enterprises, especially in the direction of micro-, medium-and macro-upgrading. At the same time, based on the above mechanism, it provides policy enlightenment for enterprises to realize digital transformation and layout digital development strategy.