Based on the PVAR model and the panel data of 31 provinces in China (except Hong Kong, Macao and Taiwan) from 2006 to 2018, the dynamic relationship among new urbanization, industrial structure upgrading and logistics industry are discussed. The results show that the benign interaction relationship is not realized among the three variables, and the logistics industry has a strong path dependence; the new urbanization and the logistics industry both have a positive effect when they are impacted by the other variables, and the positive impact of logistics industry on the industrial structure upgrading is time-delayed; three variables are easily affected by their own development status and remain stable.Therefore, while strengthening the socialization and specialization level of the logistics services, it is necessary to give full play to the active role of the logistics industry in promoting rapid economic growth, optimizing industrial structure, and promoting the construction of new urbanization, so as to promote the upgrading of regional economic value chain.