This paper tries to make a comparative study between the two ancient pioneer Universities, Nalanda University in India and Al-Azhar University of Cairo in Egypt. India was a great seat of learning in ancient period where people from the various parts of the world used to come to India to acquire knowledge. Nalanda, Taxila, Mithila, Vikramasila, Baranasi, Valabhi etc. were the popular names where systematic ways of higher education prevailed. Al-Azhar is also a popular higher learning institute in Cairo, Egypt, which is the symbol of Islamic tradition, culture and education. It is not too old as Nalanda but it was started its journey when Nalanda reached its highest pride. Though no record was found whether there was any connection regarding the educational transactions between these two Universities existed or not but this study helps to recognize the pattern, structure and other factors which were responsible for the development of higher education in that period. This paper highlights the academic brilliance of Nalanda system of education in the perspective of Nalanda-contemporary (415 A.D. – 1200 A.D.) global higher education with special reference to Al-Azhar. The method employed for the present study is historical and analytical in nature.