This study investigates Yoruba Indigenous knowledge (IK) mode of acquisition, storage access, transmission and identify the revitalizing role of knowledge management (KM) principles on preservation of Yoruba indigenous knowledge. This research project is anchored in Smith's (1999) anti-colonial and African/Black feminist research methodologies because researchers are allowed to effectively engage the research objectives and the research questions. Face-to-face interviews were primary source of data. Researchers interviewed a diverse group of custodians of Yoruba IK and at least one of their children. While 8 participants agreed to participate in this research, in the end there were five custodians of different Yoruba IK that were separately interviewed. Each interview session lapses between 45-60 minutes and was digitally recorded and took place in person. Findings from research shows that Yoruba indigenous knowledge finds application and relevance in all spheres of human endeavor ranging from indigenous knowledge in medicine, crafts, bids making, manufacturing, drums making, drum playing, technology to manufacturing. The paper concluded that KM principles when applied to Yoruba IK could help to revitalize it and make it accessible to whosoever is interested in them. The research recommends that efforts and policy should be in place to compensate and protect the interest of the authors and ownership of Yoruba IK who are willing to decentralize their knowledge to encourage them to part with such IK.