Abstract: In a game of incomplete information, at least one player is uncertain about another player’s payoff function. Game theory is applied to investigate the impact of incomplete information on international transfer of low-carbon technologies. This paper establishes a dynamic game model under two-sided and multi-dimensional incomplete information, which is then used to analyze the cooperation room of technology transfer, corresponding equilibrium, and their policy implications. It is shown that information advantages of participants are not necessarily beneficial in international low-carbon technology transfer; incomplete information leads to non-efficiency with the technology transfer agreement being delayed; the United Nations Framework Convention on Climate Change should establish appropriate information exchange mechanisms on technology transfer to reduce adverse selections and increase the efficiency.