This study assessed air quality and noise parameters in Oluyole, an industrial zone in Southwest Nigeria. Twenty three sampling points were randomly selected in the industrial and residential areas, while four points control. The assessment was carried out for eight weeks each during rainy and dry seasons. A multi-gas monitor was used to determine sampling CO, SO2, H2S, and Hydrocarbon (HC), while a Personal Data RAM-1200 was used to measure suspended particulate matter (SPM). Noise levels were measured using a sound level meter, while the coordinates of sampling points were taken with a Garmin GPS. Data were subjected to descriptive analysis and one-way analysis of variance (ANOVA) to separate means. Selected air quality parameters varied significantly (p<0.05) for different locations and seasons. Residential and industrial areas showed significant variation in their levels of Noise, SPM and CO. SPM and H2S levels were higher during dry season while Noise, CO and Hydrocarbon levels were higher during the wet season. Levels of Noise, SPM, H2S and CO decreased with increasing distance from the industrial area but the reverse was the case for Hydrocarbon. Hence, there is a need for adoption of cleaner technologies by the industries and enforcement of environmental standards by regulatory agencies.