An apparatus and method for managing a translation look-aside buffer (TLB). The TLB is shared by a plurality of jobs. The method including the steps of: obtaining at least one attribute of each job of the plurality of jobs; assigning a priority level to each job according to at least one attribute of each job; and managing the related TLB entries of each job according to the priority level of each job. The present invention also provides an apparatus for managing TLB corresponding to the above method. The method and apparatus according to the present invention provide an efficient use of the shared TLB.