Translation is understood as knowledge production, knowledge management, and knowledge utilization in this paper. First, we can reconceptualize the essence and value of translation from the perspective of knowledge production. When translation is redefined as knowledge transfer, discourse reconstruction, and value creation, there will be no linear relation between source text (ST) and target text (TT). The authority of the author and the ST is deconstructed, and the subjectivity and agency of the translator and the TT is affirmed; By re-examining the local and global nature of knowledge, we see translation as an important way for the local to go global, highlighting its universal aspect. Second, we can turn tacit knowledge into explicit one, or vice versa, and develop a set of tools for personal and/or organizational knowledge management, to improve language service and translation education, to better implement state translation programs, and to meet the challenges of knowledge management in a digitalized society. Third, we can accelerate the pace of change and bridge the “know-do gap” between theory and application, or knowledge and action, through knowledge utilization, by which we can also increase the interaction, exchange, and dialogue among different stakeholders and communities.