MicroRNAs target complementary mRNAs for degradation or translational repression, reducing or preventing protein synthesis. In <i>C. elegans</i>, the transcription factor HBL-1 (Hunchback-like 1) promotes early larval (L2) stage cell-fates, and the <i>
let-7-</i>family microRNAs temporally down-regulate HBL-1 to enable the L2-to-L3 cell-fate progression. In parallel to <i>
let-7</i>-family microRNAs, the conserved RNA binding protein LIN-28 and its downstream gene <i>
lin-46</i>, also act upstream of HBL-1 in regulating the L2-to-L3 cell-fate progression. The molecular function of LIN-46, and how the <i>
lin-28-
lin-46</i> pathway regulates HBL-1, are not understood. Here, we report that the regulation of HBL-1 by the <i>
lin-28-
lin-46</i> pathway is independent of the <i>
let-7</i>/<i>
lin-4</i> microRNA complementary sites (LCSs) in the <i>
hbl-1</i> 3'UTR, and involves a stage-specific post-translational regulation of HBL-1 nuclear accumulation. We find that LIN-46 is necessary and sufficient to prevent nuclear accumulation of HBL-1. Our results illuminate that the robust progression from L2 to L3 cell-fates depends on the combination of two distinct modes of HBL-1 down-regulation: decreased synthesis of HBL-1 via <i>
let-7</i>-family microRNA activity, and decreased nuclear accumulation of HBL-1 via action of the <i>
lin-28</i>-<i>
lin-46</i> pathway.