In order to study the Internet of Things service platform based on semantic Network, a service-oriented clustering labeling method is proposed, firstly, a semantic Web service similarity computing method is proposed to solve the shortcomings of the existing methods. This method describes the designed semantic Web service annotation clustering algorithm based on AP algorithm. The distance matrix and related parameters of the algorithm are calculated and assigned according to the results of similarity calculation. The correctness of preference parameter selection will be compared and verified in the service discovery system. The greater the value of damping coefficient, the more iterations, and the slower the convergence rate. However, when the value of damping coefficient is 0.7, the number of iterations is moderate and the convergence rate is the best, which proves that this method has a better effect on service function matching.