Stamping is employed in a wide range of applications including household appliances, automobiles, vessel, and aerospace. Due to the discrete flow energy-intensive processes and dynamic energy changes in stamping production, it has great potential for energy savings. There still lacks an effective method to monitor and analyze the energy efficiency in stamping workshop. To this end, this paper proposes an energy efficiency monitoring and analysis system based on Internet of Things (IoT). The characteristics in stamping workshop are first analyzed, the energy consumption is decomposed, and the makespan is quantified. Besides, energy efficiency indicators of energy efficiency in the press machine, specific energy consumption in the part, and energy efficiency in the workshop are analyzed and defined. Then the detailed information about the energy efficiency monitoring and analysis system as data acquisition, data transmission, data storage, data analysis, and display based on IoT is presented. Finally, a forklift stamping workshop was investigated to validate the effectiveness of the proposed method. The interface and the results of the data analysis showed that the proposed system can monitor the energy efficiency in the stamping workshop comprehensively. Furthermore, potential opportunities for energy consumption reduction and efficient production can be identified.