<p>Over the last few years, the concept of Industry 4.0 (I4.0) has gained considerable attention due to its enormous impact on various fields, especially on production systems. The emergence of I4.0 technology in manufacturing has made it necessary to identify the most suitable technology for production lines, which has become a critical decision-making problem. In this study, a hybrid Entropy-Combined Compromise Solution (CoCoSo) method is proposed to prioritize the I4.0 technologies according to their relevance to a set of manufacturing companies’ criteria. Based on the extensive literature review, seven vital criteria of manufacturing firms and eight I4.0 technologies are identified. For prioritizing the technologies, the proposed Entropy-CoCoSo method is applied. Furthermore, the strong association between the ranking of the proposed approach and the mean ranking of the technologies established by eight distinct multi-criteria decision-making techniques suggests that the proposed method’s effectiveness is justified. According to the results, knowledge management and cybersecurity are the most important factor and the most suitable technology in manufacturing firms, respectively.</p>