Faced with the severe situation of global population aging, smart elderly care services have become an effective way to solve the dilemma of elderly care. In recent years, the Chinese government has frequently issued policies to promote the rapid development of smart elderly care service. This paper constructs a three-dimensional analysis framework of “policy objective-policy tool-value chain” and uses content analysis method, which is a structured research method that analyzes the content of text, to analyze 126 policies at the national level of China’s Smart elderly care service from 2012 to 2022. Through the quantitative statistical analysis, this study finds that the distribution of policy objectives is uneven, the structure of policy tools is imbalanced, the support strength of each link of the value chains is different, and the cross-fitting effect of dimensions is insufficient. In the future, pay attention to the balanced development of the needs of the elderly; Promote the complementarity of various policy tools; Strengthen the systematization of all links of the value chains; Improve the fitting effect between policy objectives, policy tools and value chains, and strive to improve the weak points of each combination model.