With the method of cross sectional study, we conducted a questionnaire survey among 406 organizations. Then, using multiple regression analysis and path analysis to study the internal relations among knowledge management, organizational learning, innovation and core competence, which can provide a theoretical basis and practical reference for the organization to maintain and enhance the core competence. The results show that: (1) knowledge management has significant regression effect on organizational learning, innovation and core competence, and the regression effect of organizational learning on innovation and core competence is also remarkable. (2) “Tacit knowledge creation” in knowledge management significantly affects the organizational learning, innovation and core competence, while the regression effect of "knowledge transfer and sharing" on the above variables are not significant. (3) Except “shared vision”, each factor of Organizational learning has significant regression effect on innovation and core competence. (4) Organizational learning has an indirect influence on core competence. Knowledge management has both direct and indirect influence on core competence .The following conclusions have been founded that: Tacit knowledge creation is the core content of knowledge management, and an important source of organizational core competence. Organization should not only attach importance to strengthen the knowledge management itself to enhance the core competence, but also pay attention to the integration of knowledge management and organizational learning. Taking advantage of organizational innovation to indirectly promote the core competence of the organization.