The main purpose of the study is to explore the perceptions of information professionals about Knowledge Management (KM) in Bangladesh. The study was conducted through survey using a pre-structured questionnaire. A short, well-structured both open and close ended questionnaire was sent 80 information professionals who had been working in different libraries of Bangladesh by post. The respondents were selected from each division of Bangladesh (30 respondents from Dhaka division, 10 each in Chittagong, Rajshahi, Khulna, Barishal and Sylhet division). We received 40 responses and the response rate was 40 percent. The results of the survey show that 90 percent of the information professionals of Bangladesh first read about KM in literature, but none had taken any courses on KM. 43 percent of the responded information professionals of Bangladesh agreed that KM is just another fad like Total Quality Management (TQM), 50 percent of the information professionals strongly agreed that KM is a new term for what information professionals were already doing. The government of Bangladesh as well as the higher educational institutions should provide better educational opportunities on KM.