Joint extraction of entities and relations from unstructured texts to form factual triples is a fundamental task of constructing a Knowledge Base (KB). A common method is to decode triples by predicting entity pairs to obtain the corresponding relation. However, it is still challenging to handle this task efficiently, especially for the overlapping triple problem. To address such a problem, this paper proposes a novel efficient entities and relations extraction model called TDEER, which stands for Translating Decoding Schema for Joint Extraction of Entities and Relations. Unlike the common approaches, the proposed translating decoding schema regards the relation as a translating operation from subject to objects, i.e., TDEER decodes triples as subject + relation → objects. TDEER can naturally handle the overlapping triple problem, because the translating decoding schema can recognize all possible triples, including overlapping and non-overlapping triples. To enhance model robustness, we introduce negative samples to alleviate error accumulation at different stages. Extensive experiments on public datasets demonstrate that TDEER produces competitive results compared with the state-of-the-art (SOTA) baselines. Furthermore, the computation complexity analysis indicates that TDEER is more efficient than powerful baselines. Especially, the proposed TDEER is 2 times faster than the recent SOTA models. The code is available at https://github.com/4AI/TDEER.