In the context of urban stock renewal, brownfield regeneration is a crucial approach to sustainable land use, and it is of economic, social, and political significance in promoting the transformation and rejuvenation of brownfield land in urban waterfront due to its superior location conditions. Based on the potential analysis and updating mechanism of the transformation of urban waterfront brownfields into public space, this study takes the landscape belt on the east bank of the Hangzhou Grand Canal as an example to explore the resource integration and value regeneration strategies in the transformation of urban waterfront brownfield. It elaborates on four aspects: slow traffic system connectivity, industrial heritage transformation, historical context continuation, and ecological environment restoration.