An electronic book is a book made available in digital form or an electronic version of a printed book. Since its emergence in 1970s, e-books are becoming increasingly popular and adopted by players in the academic sector. This is due to its numerous benefits and advantages over the print books. This study was carried out to assess the use of e-books by Nigerian students with focus on students of Crescent University, Abeokuta. To advance this aim, the study examined the extent to which students of Crescent University use e-books; assessed the opinions of Crescent University students on e-book and identified challenges and benefits in the use of e-book by Crescent University students for academic activities. The study is premised on perception and uses and gratification theories. The study adopted descriptive survey research design with questionnaire as research instrument. A total number of 100 respondents were selected from the students of Crescent University, Abeokuta. The study discovered that a significant majority of the respondents use e-books and perceived e-books to be very useful and comfortable. Weak internet access, data subscription, need to possess digital technology are some of the challenges identified by the respondents in their use of e-books. Access to e-book anytime, ease of use and benefits of use are some of the benefits associated with the use of e-books. The study recommended that issues such as data subscription, weak internet access should be addressed by the network operator and that government and relevant agencies should address the issue of low local content.