Abstract: To enhance the sustainability of smart product-service systems (SPSSs) and align the value demands of multiple stakeholders, this paper proposes an integrated evaluation model from a value chain perspective. First, a three-dimensional sustainability evaluation index system covering economic, social, and environmental aspects is established by disentangling the value demands of key stakeholders such as manufacturers and service providers. Second, a rough-fuzzy DEMATEL-ANP (DANP) method is integrated with a gray clustering model (GCM) to effectively deal with the indicator interactions and the fuzzy uncertainty in the evaluation process. Finally, the proposed model is validated through a case study on the sustainability evaluation of an SPSS for intelligent freight vehicles. Results show that the proposed model can provide strategic support for participating stakeholders in SPSSs to enhance their sustainability performance.