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Lexicon-based retrieval has gained siginificant popularity in text retrieval due to its efficient and robust performance. To further enhance performance of lexicon-based retrieval, researchers have been diligently incorporating state-of-the-art methodologies like Neural retrieval and text-level contrastive learning approaches. Nonetheless, despite the promising outcomes, current lexicon-based retrieval methods have received limited attention in exploring the potential benefits of feature context representations and term-level knowledge guidance. In this paper, we introduce an innovative method by introducing FEature Context and TErm-level Knowledge modules(FecTek). To effectively enrich the feature context representations of term weight, the Feature Context Module (FCM) is introduced, which leverages the power of BERT's representation to determine dynamic weights for each element in the embedding. Additionally, we develop a term-level knowledge guidance module (TKGM) for effectively utilizing term-level knowledge to intelligently guide the modeling process of term weight. Evaluation of the proposed method on MS Marco benchmark demonstrates its superiority over the previous state-of-the-art approaches.