From the perspective of the mechanism between the producer services agglomeration and resource allocation efficiency, based on the data of 286 cities from 2005 to 2017 in China and on the method system GMM, this paper analyzes how producer services agglomeration influences the resource allocation efficiency. The empirical findings suggest that producer services agglomeration can effectively enhance China’s resource allocation efficiency. Producer services agglomeration in the eastern region can improve capital and labor misallocation, while the agglomeration relieving the capital but has no significant effect on the labor in the middle region, and has significant effect on capital but worsening the labor misallocation in the western region, and has no positive effect on the capital but exacerbating the labor misallocation. High-end producer services agglomeration ameliorates resource misallocation but low-end worsening the labor misallocation while improving the capital. Producer services agglomeration of megalopolis and big cities can enhance resource allocation efficiency, while agglomeration of middle-sized and small cities can improve capital misallocation but worsen the labor misallocation.