This review paper focuses on the impact of the information and communication technology in Sri Lankan higher education sector. This highlights the current status of the impacts of the information and communication technology (ICT) on higher education institutes like state universities, private universities, campuses and etc. Computer technology and the internet started to play a big major role in Sri Lanka in the early 2000s. So ICT gradually entered the education sector. But the effect of ICT in higher education was dramatically increased from 2009 to 2013. Instead of traditional teaching and learning methods, new technology was introduced into the Sri Lankan higher education sector to produce undergraduates and graduates that can compete with the rapidly changing world. Despite one’s teaching and learning field, ICT is important to all. ICT is not only used for academic tasks but also for administrative tasks in Sri Lankan higher education institutes. With all these impacts, considerable challenges have been made in the higher education sector. Very few research papers have been published under this topic but all of them statistically prove that ICT has made a huge impact on the Sri Lankan higher education sector by giving both advantages and disadvantages to all the stakeholders of both government and private higher education institutes.