The use of league tables and rankings (LTRs) as a tool to rank or measure the performance of higher education institutions (HEIs) has grown in popularity. Research indicates that these ranking criteria are often discussed from the standpoint of governments, the HEI management, and the ranking institutions producing these LTR publications. The opinions of the students on the suitable ranking criteria used by ranking institutions are generally omitted. This chapter investigates the applicable criteria for ranking HEIs in South Africa, from the perspective of students. A survey was conducted to determine the most relevant university ranking criteria considered by university students. The results indicate that the students perceive resources and infrastructure, accreditation, international orientation, research output, faculty quality, and teaching and learning as the most relevant criteria for ranking HEIs. Managerial recommendations are provided for HEIs to address the ranking criteria rated important by students.