This paper aims to discover the relationship between critical thinking and creativity and empirically measure the level of their development among youngsters for knowledge generation and dissemination in education. Authors attempted to explore the relationships between critical thinking and creativity from both theoretical and empirical perspectives. The research background was constructed by relevant literature review on creative potential, critical abilities, as well as relationships between them and their role in learning processes along with knowledge acquisition and management. In order to empirically investigate the relationships between the variables, the authors performed a survey, gathered the data (findings) and conducted statistical analysis with using SPSS software. This research as preliminary study concentrates to explore the quality of the relations between the variables among young generation (220 participants: 86 female, 134 male). The primary findings show that existing relationships between all studied constructs are complex and influenced by other variables such as personality, social environment, educational system, technology usage and knowledge generation, teacher's philosophy etc. It was discovered that gender has a significant impact on critical thinking skills and creativity. Therefore it ensures of knowledge creation and sharing in modern educational era.