Abstract: The increased outsourcing and globalization of market competition demand more powerful knowledge-based management systems to support the representation, exchange, integration and sharing of product knowledge. On the basis of product knowledge representation techniques, especially focusing on S-B-F model and ontology, a product knowledge representation model is put forward and two related nomenclatures of ontology, namely flow and function are constructed. A detail case is also presented to show that the proposed method has significant advantages in enhancing descriptive ability, intelligence of information processing, and improving the system integration as well as knowledge sharing.