In the realm of higher education, the pivotal role of intellectual capital in fostering value creation has become increasingly pronounced. Intellectual capital, encompassing the collective knowledge, skills, and innovative capacities of individuals within academic institutions, serves as a catalyst for transformative advancements in education and beyond. As the global landscape evolves with rapid technological and societal changes, the significance of intellectual capital in shaping the trajectory of higher education has never been more crucial. This article delves into the multifaceted dimensions of intellectual capital and its profound impact on value generation within the sphere of higher education. By exploring the intricate interplay between knowledge acquisition, innovation, and institutional development, we aim to illuminate the dynamic and evolving nature of intellectual capital as a driving force behind the continual evolution and enhancement of higher education. Based on the changes observed in organizational/institutional value creation, this literature review deals in detail with the need for conscious, effective and efficient management and development of intellectual capital, which is inconceivable without real and reliable information about the resources subject to management.