The Cosmological Constant Problem and Re-interpretation of Time

We abandon the interpretation that time is a global parameter in quantum mechanics, replace it by a quantum dynamical variable playing the role of time. This operational re-interpretation of time provides a solution to the cosmological constant problem. The expectation value of the zero-point energy under the new time variable vanishes. The fluctuation of the vacuum energy as the leading contribution to the gravitational effect gives a correct order to the observed "dark energy". The "dark energy" as a mirage is always seen comparable with the matter energy density by an observer using the internal clock time. Conceptual consequences of the re-interpretation of time are also discussed.