Abstract: The paper attempts to illuminate the value of Benjamin's translation theory to contemporary translation studies through focusing on three major topics—translatability, nature of translation and translator's subjectivity in contrast with contemporary translation theories. Walter Benjamin ontologically emphasizes translation is nothing but the presentation of relations and disengages the issue of translatability from ceaseless epistemological debates by considering translatability as the innate attribute of the original text. In the meantime, Benjamin highlights the originality of the original text and the status of the author and emancipates the translator from enslavement of the original text and author in order to entrust him with the mission of complementing and perfecting the original text.