China’s construction industry developed rapidly and safety production has become a vital issue. Improving the safety behavior of construction workers is an important measure to effectively decrease construction safety accidents. At present, a New Generation of Construction Workers (NGCWs) born after 1980 has gradually become the main force of construction companies in China and the special group characteristics coming from the intergenerational difference may make them behave differently in safety-related activities, therefore, it is very important to study how to promote their safety behavior. This paper aimed to explore the influencing mechanism of job satisfaction on the safety behavior of NGCWs and examine the mediating role of safety knowledge sharing and work engagement. Confirmatory factor analysis and structural equation modeling analysis were applied to test the theoretical model. Empirical research results indicated that job satisfaction can effectively promote safety behavior through safety knowledge sharing and work engagement. Safety knowledge sharing plays a complete mediating role between job satisfaction and safety compliance behavior, as well as between job satisfaction and safety participation behavior. Moreover, work engagement plays a complete mediating role between job satisfaction and safety participation behavior, which can provide valuable management references for China’s construction companies to strengthen their safety behavior.