The main objective of the study is to investigate the relationship between the degree of internationalization and the performance of businesses in the manufacturing sector in Argentina. Using a panel data collected by the World Bank over the years 2006, 2010, and 2017 of the manufacturing firms in Argentina, the regression results show empirical evidence of a nonlinear relationship (an inverted-U shape) between the degree of internationalization and firm performance of manufacturing firms in Argentina. The implication of this study provides the strategic thinking for managers to understand and come up with the right strategies to reduce risks and enrich business performance in the process of internationalization.