For manufacturing enterprises to successfully enter the “Industry 4.0” era and establish advantages in the new wave of industrial revolution, they must use Internet thinking to transform manufacturing enterprises and promote the in-depth integration of informatization and industrialization under the premise of managing and controlling risks, to achieve transformation and upgrading. The innovation and management of the risks of manufacturing enterprises’ Internet strategic transformation directly affects the success or failure of enterprises’ transformation. On the basis of constructing the risk evaluation index system of manufacturing enterprise’s Internet strategy transformation, a manufacturing enterprise’s Internet strategy transformation risk evaluation model was constructed based on BP artificial neural network, and typical enterprises were selected to carry out practical application. The results show that the BP artificial neural network structure of the risk evaluation of the Internet strategic transformation of the manufacturing enterprises includes 18 layers of network input layer, 4 nodes of network hidden layer and 4 neurons of output layer, and the application effect of model is good.