The prevalence of malaria parasite and antimalarial preventive measures among students of University of Lagos, Nigeria was carried out between November 2014 and February 2015. Blood samples were collected from 400 students (with age ranging from 15-46year) by finger pricking and analyzed microscopically and by Rapid Diagnostic Test kit. Semi-structured questionnaire probing into their knowledge of the cause of malaria, ability to recognize signs and symptoms, treatment seeking behaviour was distributed to the respondents. The prevalence of Plasmodium falciparum by microscopy was significantly lower (p=0.0000042). More than three quarters of the respondents (88.5%) had a good knowledge of the cause of malaria and were able to identify signs and symptoms of malaria which included headache (51.5%), fever (26%), dizziness (9.5%). Also more than half of the students (202) visit hospital when they recognize such signs while others visit Pharmaceutical outlets (130), drug hawkers (37) or use herbal remedy (31).Malaria preventive measures employed by students ranges from the use of Long-Lasting Insecticide Treated Bednets (74), topical mosquito repellant cream (65) to cleaning the environment (54). Furthermore, half of the students (50%) reported having malaria bouts twice per year, 35% once annually while 15% could not remember how often they have it. These bouts of various frequencies resulted in 360 (90%) of the students being absent from school from less than 10 days to more than 20 days. Proactively placing preventive measures would negate cascades of effects amongst the students. Continuous studies should be carried out to assess the prevalence of malaria in different foci of Nigeria and the level of awareness on the benefits of use of preventive measures should be emphasized among community members if Nigeria and Africa as a whole will meet the elimination target by 2030.