Based on the research of knowledge attributes of competences and capabilities,and the knowledge component of dynamic capabilities,it comprehensively uses the concepts of content-focused and process-focused views about knowledge management and puts forward a concept model for knowledge activities analysis of dynamic capabilities evolution,and then analyzes the knowledge activities and evolution mechanism of dynamic capabilities with this model.From the research,it concludes that knowledge activities are the foundation and source of the formation of dynamic capabilities while its evolution depends on the activities of knowledge management,and the organizational learning mechanism can guarantee its sustained development.