Investment environment is an important factor of affecting regional economic development. By using comprehensive analysis and SPSS, this paper evaluated the investment environment of Guangzhou-Fozhou-Zhaozhou Economic Circle from three time nodes dynamically. The results showed that:①From 2008 to 2016, the overall of investment environment in Guangzhou-Foshan-Zhaozhou Economic Circle was rising. The scores of social economic strength and economic infrastructure are rise, but the score of environmental quality was declined.②There were obvious differences in investment environment of Guangzhou-Foshan-Zhaoqing Economic Circle, the ranking from high to low was Guangzhou, Foshan and Zhaoqing. Among them, Guangzhou scored the highest in social economic strength and economic infrastructure, Foshan scored the highest in economic infrastructure, and Zhaoqing's investment environment was in a relatively disadvantaged position. The main ways to improve the investment environment of Guangzhou-Foshan-Zhaozhou economic Circle are to play more attention to their characteristics, regional division of labor and cooperation.