Since the 21st century, the digital technology revolution—represented by big data, cloud computing, and artificial intelligence—has profoundly reshaped global modes of production and power structures, making digitization a key dimension in the evolution of contemporary capitalism. From a Marxist political economy perspective, this paper reveals the essential characteristics and contemporary features of digital imperialism, arguing that it has established a new form of exploitation centered on digital commodities as core mediators, digital spaces as arenas for power operations, and “digital fetishism” as an ideological mechanism of social control. Based on this analysis, the paper examines the logical mechanisms underlying the emergence and operation of this new exploitation system, identifying its fundamental harms: the exclusive competition between digital capital and industrial capital, which constitutes a structural crisis of digital imperialism; the collusive integration and development between digital capital and financial capital, which accelerates this structural crisis; and the internal conflict between value realization and value reproduction, which hastens the systemic collapse of digital imperialism. To this end, it is urgently necessary to strengthen domestic data sovereignty and foster an open industrial ecosystem to prevent core industries from losing their autonomous development capacity; enhance financial regulation and promote transparency in digital assets to curb the covert exploitation and risk spillover of transnational digital capital; and establish robust ethical governance mechanisms for digital technologies along with frameworks for assessing public value, thereby advancing sustainable innovation and the reproduction of social value. This approach aims not only to expand the theoretical boundaries of critical research on digital capitalism but also to provide integrated policy insights and governance frameworks that safeguard national strategic autonomy, ensure social equity, and support the sustainable development of the digital economy.