This study investigates whether and how knowledge-intensive HRM systems (KIHRS) impact the performance of knowledge-intensive teams (KITs). We integrate the ability-motivation-opportunity theory with the knowledge management literature to hypothesize that KIHRS affect KIT performance through team knowledge exploration and knowledge exploitation processes. A total of 543 responses (408 team members and 135 team leaders) from 135 KIT of 119 firms were collected in two waves with a time lag of 3 months. The findings indicate that KIHRS relate positively to KIT performance. Furthermore, team knowledge exploration and knowledge exploitation work in a sequence to mediate the relationship between KIHRS and KIT performance.