This developmental paper provides an overview of the factors influencing knowledge management (KM) practices in academic libraries as currently understood and presented in the literature. Important here is the discussion pertaining to organizational culture, KM strategy development and the role of information communication technology in KM within academic libraries as critical factors. The paper also presents an overview of KM by clarifying the necessary terminology from relevant studies in the literature that have focused on KM. Factors which are regarded in the literature as contributing to the failure of successful implementation of KM practices are also discussed.