How to upgrade industrial cluster and enterpriese within the clusters in the process of value chain governance can be studied by combining industry clusters and value chains, the two modes of production organization. The studies of upgrading of industrial clusters are reviewed from the perspectives of collective efficiency of industrial clusters and governance of value chain. It is proposed that the driving functions of innovation and the realizing mechanism is the standing point of the research on upgrading of industrial clusters from the perspective of value chain. And then further study plan is put forward in terms of the main contents, some basic views to be clarified, and the design of research path.