Reflecting upon the short history and fast development of electronic journals, there is no doubt that electronic journals open up many exciting service opportunities for academic libraries. This technology possesses both advantages and disadvantages. Some advantages include multimedia capabilities, speed of production and distribution, and accessibility. Disadvantages posed are technological, sociocultural, and economic barriers. As a literature review, this article begins with a brief historical background of electronic journals. It then delineates the positive and negative aspects of the technology and reviews the crucial issues and trends concerning electronic journals, which librarians need both to be aware of and understand. Some practical implications that are unique to academic libraries are also discussed. Although it is relatively new territory, it is certain that librarians’ analytical abilities and cooperative efforts to examine and balance the factors can make electronic journals a success in academic libraries.