Promoting students' ability to transfer or apply their knowledge and skills to real-life situations is critical in higher education. The current study was designed to test the likelihood that the constructs based on self-determination theory (SDT) framework help understand college students' perceived knowledge transferability. A total of 3783 undergraduates from 301 classes participated in this study. The results of a series of multilevel modeling analyses indicated that (a) competence satisfaction and identification were the most salient factors influencing students' perceived knowledge transferability; (b) the SDT-related variables together explained 64.2% of the between-student variance in perceived knowledge transferability; (c) after controlling for student-level covariates and SDT-related variables, 7.9% of the variance in perceived knowledge transferability was caused by between-class differences, and 19.6% of it could be explained by course fields and course levels. Our results, which provide evidence of multilevel factors influencing college students' perceived knowledge transferability, have implications for promoting transfer in higher education.