This paper offers a comprehensive survey of translation ethics within the theoretical frame of Lady Welby's meaning triad concerning the relationship between ethics and translation in the meaning process of sign activities. The paper mainly discusses such aspects as: (1) the relationship between meaning triad and translation ethics, (2) upward translation as a method to maximize ethical value and (3) enhancement of translation ethics as a goal of upward translation. The results of the paper can be found as the following: (1) the evolutionary process of meaning from sense to meaning and then to significance is the path for the improvement of translators' cognitive ability and the sublimation of translator or interpreter's ethics and morality; (2) Upward translation serves as a key to enhancing translators' ethical consciousness; and (3) translation, meaning and ethics are correlated and interrelated mechanisms. Therefore, the implications of the dynamic and dialogic view of translation and meaning will provide an interdisciplinary theoretical vision for the construction of translation ethics.