Adopting advanced manufacturing technologies (AMTs) is believed to be the key to survival for many companies in the current highly volatile business environment. For adoption of AMT involves a very high level of investment, it is very important to make scientific decision to select AMT. Firstly, the literature of decision-making methods of selecting AMT is reviewed. Secondly, the analysis framework of investment decision-making on AMT is proposed, which includes strategic benefits analysis, economic benefits analysis and risk analysis. Finally, a methodology of evaluating and selecting AMT is put forward by using the concepts of fuzzy theory and hierarchical analysis.