The global economy is undergoing an in-depth transformation from an industrial economy to a service-oriented economy. To promote the development of manufacturing industry and advanced manufacturing industry through servitization is an important means to enhance China’s international competitiveness. Based on the perspective of enterprise ambidexterity, this paper proposes research hypotheses and theoretical models through theoretical analysis, and further explores the influence mechanism of servitization on GVC upgrading in advanced manufacturing industry and conducts empirical research. The conclusion shows that: servitization can promote the upgrading of advanced manufacturing GVC; enterprise ambidexterity plays a partial mediating role between servitization and GVC upgrading in advanced manufacturing industry; market demand positively moderates the relationship between servitization and enterprise exploration ability, but fails to regulate the relationship between servitization and enterprise application ability; economic degree of freedom positively moderates the relationship between enterprise ambidexterity and GVC upgrade. Finally, the paper puts forward corresponding policy suggestions.