Currently, urban renovation activities in China are booming. And promoting the renovation of public buildings is a key feature of urban renovation due to its large scale, high cost, and significant impact to the natural and social environment. To reduce the ambiguity and uncertainty in evaluating the potential for the renovation of existing public buildings, a renovation potential evaluation model integrating a game theory-based combination weighting method and cloud model theory is proposed. This paper constructs a comprehensive evaluation index system based on relevant standards and the literature. Game theory is used to optimize the weights obtained by AHP and entropy weight methods to obtain a combined weight. MATLAB programming is used to calculate the comprehensive cloud parameters of the evaluation index for the potential renovation of existing public buildings and therefore generate cloud Graphs. Through a case study in Nanjing, China, it was demonstrated that the combination weight cloud model can objectively reflect the relationship between the fuzziness and randomness of evaluation indicators for public building renovation potential. The visual expression of cloud Graphs can intuitively reflect the magnitude of renovation and renovation potential and the degree of uncertainty in evaluation results. The research result provides useful references for the sustainable utilization of building resources in the era of building.