Knowledge has become a crucial resource in our society, managing knowledge helps information professionals in improving services being rendered to library users. The digital era has revolutionised the landscape of knowledge management in academic libraries, presenting new opportunities and challenges for information professionals. Academic libraries face the complex task of formulating effective strategies and implementing best practices for knowledge management. To actively participate in knowledge management activities, certain competencies and skills are required by library personnel. Thus, this study explores knowledge management practices in academic libraries in Ondo State . This study adopted descriptive survey research design. The population of the study consists of 114 library personnel working in the eight (8) academic libraries in Ondo state tertiary institutions. The population of this study was limited to professionals (librarians) and paraprofessionals (library officers) only. The sampling technique adopted for this study was total enumeration. The research instrument for this study was a structured questionnaire. The collected data were analysed using descriptive statistics. The analysis was done using the Statistical Package for Social Sciences (SPSS). Results revealed the main purposes of implementing KM in academic libraries, which include improving library services, managing information explosions, and meeting information needs of users, among many others. The highest rated areas of KM in academic libraries include digital and online services, reference services, technical services, policy and decision making, information literacy program, and resource management. Strategies of KM, as indicated by the study, includes using available ICT facilities for KM activities, providing ICT infrastructure, training in ICT and KM, developing a knowledge sharing culture, and providing mentorship. The benefits of KM, according to the findings, include gaining new skills, eradicating duplication of work, providing new jobs and roles to library professionals, transforming libraries into learning organisations, helping librarians respond effectively to users‟ needs, and so on. Respondents indicated that all the ten skills listed in the study are important for KM implementation. The major problems of KM implementation identified were budget decline, lack of clear guidelines and policies on KM, inadequate staff training, inadequate technology, lack of appropriate rewards and incentives, among others. Knowledge management will empower libraries to thrive as dynamic knowledge hubs in the digital era. Academic libraries should make sure that they manage their knowledge so as to facilitate easy and timely sharing and use of knowledge for the betterment of academic community. The study recommends that management need to make adequate provision for staff training and technological infrastructure so as to facilitate knowledge management and improve library services.