Abstract: The issue of "translatability" has long perplexed scholars in both Chinese and international translation studies, sparking extensive debate in theoretical and practical domains. Employing grounded theory, this study conducts a coding analysis of relevant journal articles, books, and reports to construct a conceptual model for interpreting the controversy surrounding "translatability". It is revealed that the debate centers on three primary dimensions: language, culture, and translation subject. At a deeper level, the divergence stems from varied philosophical reflections and differing conceptions of the nature of translation. Beneath the surface disputes lie dialectical tensions between universality and particularity, adequacy and acceptability, constraint and creativity. Moreover, as the concept of "translatability" expands to interpretability and then acceptability, the intensity of the controversy gradually diminishes. Only by situating the debate within current social and cultural contexts and adopting a holistic perspective, can the essential nature of this long-standing paradox be understood and entrenched disputes be transcended.