The Asia-Pacific region is going through a period of rapid and far-reaching economic and social change, driven particularly by the impact of accelerating globalization, increased international economic competition, and the transition from traditional to knowledge-based economies and market-oriented systems. The higher education institutions in this region are experiencing the impact of change induced by the globalization. This article deals with the challenges higher education is facing, representative reform efforts in the Asia-Pacific region to meet those challenges, and introduces collaboration and technology as a vehicle of change. Major challenges to higher education were reviewed in three categories: systems perspective, quantitative and qualitative perspective, and technical perspective. On the other hand, a review of global educational reforms helped identify four mega trends of those reform efforts: focusing on capacity building of human resources, addressing an issue of cross-border education, developing quality assurance and accreditation mechanisms, and incorporating ICT. Three national reform efforts were reviewed and future directions for cooperation and collaboration among the Asia-Pacific countries were suggested.