Measuring the universities' knowledge transfer performance is important for both policymakers and universities due to the recognized social and economic impact of the knowledge transfer process. The aim of this paper is to investigate and discuss the contemporary knowledge transfer metrics used for measuring the knowledge transfer activities at universities. The research results show that the universities need to consider several important aspects when selecting and reporting on their knowledge transfer activities, such as the purpose and continuity of data collection and reporting on knowledge transfer activities, internal and external context in which universities operate, and implementation of common definitions for knowledge transfer indicators. Additional aspects identified from the conducted research which are important for the overall assessment of the universities’ knowledge transfer performances are the collection of both quantitative and qualitative data on knowledge transfer activities, and harmonization of the knowledge transfer metrics that will enable the universities to measure and compare their knowledge transfer activities, nationally and internationally.