Universities and higher education institutes, as the main knowledge creators, are of the most significant social entities in the knowledge management domain. In this paper, there has been an attempt to illustrate a practical model which comprises the most important and validated indicators of knowledge-based competency of universities according to their capabilities in managing knowledge, so as to measure such influential institutes knowledge-based impacts in the scientific society. Accordingly, based on the survey-research methodology and with the utilization of the first questionnaire for obtaining the experts views, the model has been validated. Afterwards, the indicators of the model are grouped and structured according to the credible statistical test of exploratory factor analysis for the purpose of validating the structure of the model. Then, the output has been tested in the University of Tehran, College of Management through the dispatch of the second questionnaire. Acceptable results have been obtained through credible statistical tests and analyses. Finally, the critical points that are emerged to be improved have been represented and analyzed within the structure of five factors namely: Knowledge-based Research and Result Sharing, Learning and Interaction, Idea Generation Networks, Students Welfare, and Educational Policy Making.