This study on “Research Commercialization and University-Industry Partnership in Nigeria” aimed at analyzing the relationship that exists between Nigerian universities and industry. Ex post facto design that relied on secondary source (books, journal articles, internet materials, mimeographs and conference papers) were derived from Nigerian libraries. The documentary materials were subjected to content validity before qualitatively analyzed into the study. Findings revealed that Nigerian university has partnered with industry in academic areas such as; contract research, collaborative research, sponsored research, graduate fellowship/studentships, student projects and placement as well as university consultancy and associated commercial services. This partnership has assisted in facilitating funding, staff development, student industrial work experience scheme, including technological innovation. However, the partnership has challenges in the areas of funding, mind-set orientation, organizational structure and cultural differences, as well as intellectual property right ownership; according to findings. In order to strengthen the partnership, the study recommends, diversification of research funding, disclosure of research findings, staff exchange programmes including equal share of intellectual property right.