Current research provides empirical evidence for a positive effect of information technology strategic alignment (ITSA) on corporate performance. Specifically, some surveys indicate that focusing on IT-business value (ITBV) and understanding its antecedents and outcomes help to optimize strategic alignment between IT and business. In this vein, this study contributes to an understanding of the role of organizational knowledge of strategy (OKS) on IT-business value of strategic alignment (ITBVSA) oriented to business process on firm performance. Using data from Brazilian companies, we found that OKSs exert significant, positive effects on ITSA, benefits of IT use (BUTI), business process performance (BPP), and firm performance (FP). From these results, this study’s primary contribution is an ITBVSA model designed to illustrate the interrelationships between antecedents (OKS and ITSA), outcomes (BPP and FP), and the variable through which these variables are mediated (IT use).