This article attempts to demonstrate the potential of semiotics for translation studies. Even though semiotic paradigms can be observed across certain theories advocated by translation scholars, it seems that a clear and integrated semiotics-based model of translation has not been developed yet. The hypotheses developed in the article may help to answer the question whether it is feasible to draw a relevant model of translation that would include categories for the most significant variables influencing the process of translation. To this end the article offers an analysis of various research models and discusses the potential of a semiotic framework of reference.