In recent years, Mongolian-Chinese neural machine translation (MCNMT) technology has made substantial progress. However, the establishment of the Mongolian dataset requires a significant amount of financial and material investment, which has become a major obstacle to the performance of MCNMT. Pre-training and fine-tuning technology have also achieved great success in the field of natural language processing, but how to fully exploit the potential of pre-training language models (PLMs) in MCNMT has become an urgent problem to be solved. Therefore, this paper proposes a novel MCNMT model based on the soft target template and contextual knowledge. Firstly, to learn the grammatical structure of target sentences, a selection-based parsing tree is adopted to generate candidate templates that are used as soft target templates. The template information is merged with the encoder-decoder framework, fully utilizing the templates and source text information to guide the translation process. Secondly, the translation model learns the contextual knowledge of sentences from the BERT pre-training model through the dynamic fusion mechanism and knowledge extraction paradigm, so as to improve the model’s utilization rate of language knowledge. Finally, the translation performance of the proposed model is further improved by integrating contextual knowledge and soft target templates by using a scaling factor. The effectiveness of the modified model is verified by a large number of data experiments, and the calculated BLEU (BiLingual Evaluation Understudy) value is increased by 4.032 points compared with the baseline MCNMT model of Transformers.