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Differences in the structure and semantics of knowledge that is created and maintained by the various actors on the World Wide Web make its exchange and utilization a problematic task. This is an important issue facing organizations undertaking knowledge management initiatives. An XML-based and ontology-supported knowledge description language (KDL) is presented, which has three-tier structure (core KDL, extended KDL and complex KDL), and takes advantages of strong point of ontology, XML, description logics, frame-based systems. And then, the framework and XMLbased syntax of KDL are introduced, and the methods of translating KDL into first order logic (FOL) are presented. At last, the implementation of KDL on the Web is described, and the reasoning ability of KDL proved by experiment is illustrated in detail.