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Knowledge Management and Knowledge Management System(KMS) are not new phenomena. The knowledge-based theory of the firm suggests that knowledge is the organizational asset that enables sustainable competitive advantage in hyper competitive environments. KMS is also recognized as an important weapon for sustaining competitive advantage and many companies are beginning to development KMS. The purpose of this study is to identify the variables affecting the satisfaction of KMS. We proposed research model and seven propositions regarding the factors affecting the satisfaction of KMS. Specifically the goals of this research are; (1) to examine relationships between satisfaction, and (2) to examine relationships variables and satisfaction differ by organizational maturity level. The research model presented in this study suggest that the satisfaction of KMS depends on (1) system’s, (2) cultural and (3) managerial factors. Surveys collected from 119 firms were analyzed to test the model. The analysis results revealed that knowledge management(KM) process support, incentive systems, top management support are influential variables on the satisfaction of KMS, and verify differences in satisfaction of organizations grouped by organizational maturity level. The implication of the findings and future research directions were discussed.