The objectives of this research are to study the learning process and knowledge management of successful Rong-Kaw Community Enterprise in Pho-Yai Sub-district, Warinchamrap District, Ubon Ratchathani Province; and to collect the body of knowledge on the learning process and knowledge management in community enterprise, in order to apply to other communities. The study was conducted with 125 households of Rong-Kaw village, during January to June, 2011.The methodology is qualitative research, using in-depth interview, group interview and observations. The semi-structural questions are used to collect data from 25 key persons, including community leaders, community enterprise working persons, employees of the community enterprise, and the customers who used their products.The result showed that: (1) The leaders of the community have experiential learning and tacit knowledge which facilitating for setting community enterprise, (2) Villagers have collective learning through discussing, exchanging ideas and experience, and thinking reflectively for setting community enterprise. (3) Villagers have knowledge management; including searching, enhancing and developing knowledge for producing distinctive products to the market. The multiple methods used are: study tour, learning by instructor, experimentation, and interviewing the customers regarding products quality until they can improve their products to the best quality. (4) Villagers have learning by practice. (5) Villagers have mixed model of learning and knowledge management combining the entrepreneurial thinking and sufficiency economy thinking which lead to the success of community enterprise. Entrepreneurial thinking includes innovation, perseverance and risk taking to build their successful enterprise, meanwhile sufficiency economy thinking includes their concerns in caring, harmony and helpful ways of life more than profit maximization.Furthermore, researcher founds that villagers have essential social capitals, particularly, human capital which supports their learning and knowledge management in community enterprise; including solidarity, trustworthiness, dedicated leaders with good vision, all of which support their successful community enterprise.