This paper examines the relation between ICT (Information and Communication Technology) and the effect of innovation on higher education during the 2000-2014 periods in the case of developed countries. The cointegration relationship between series was examined by using panel cointegration test developed by Pedroni (1999, 2004) and Kao (1999). As a result of the empirical analysis, cointegration relationship between the series was determined. The results provide also evidence of a positive effect of innovation in tertiary education.