Objective To observe the efficacy of ultrasound-guided needle knife combined with intra-articular platelet-rich plasma (PRP) injection in the treatment of traumatic synovitis of the knee joints. Methods A total of 48 patients with traumatic synovitis of the knee joints were selected as the research subjects, and were divided into a control group and an observation group by the random number table method, with 24 cases in each group. The control group received ultrasound-guided needle knife combined with intra-articular injection of sodium hyaluronate injection, while the observation group received ultrasound-guided needle knife combined with intra-articular PRP injection. The pain visual analogue scale (VAS) score, Lysholm scale score for knee function, and knee flexion angle were compared between the two groups before treatment, 1 month after treatment, and 3 months after treatment. The synovial thickness of the knee joint and the depth of synovial effusion were compared between the two groups before treatment and 3 months after treatment. The efficacy and total effective rate were compared between the two groups at 3 months after treatment. Teratment-related adverse reactions were recorded in both groups. Results At 1 month and 3 months after treatment, the pain VAS scores in both groups were decreased compared with those before treatment, and the score in the observation group was lower than that in the control group (P<0.05). At 1 month and 3 months after treatment, the Lysholm knee function score and knee flexion angle in both groups were increased compared with those before treatment, and the values in the observation group were higher and greater than those in the control group (P<0.05). At 3 months after treatment, the synovial thickness and depth of synovial effusion in both groups were lower than those before treatment, and those in the observation group were lower than those in the control group (P<0.05). The efficacy of the observation group was better than that of the control group (P<0.05), while there was no statistically significant difference in the total effective rate between the two groups (P>0.05). No treatment-related adverse reactions occurred in either group. Conclusion Ultrasound-guided needle knife combined with intra-articular PRP injection in the treatment of traumatic synovitis of the knee joint can relieve pain, eliminate intra-synovial effusion, repair synovial injury, promote the recovery of knee joint function, and improve clinical efficacy.