In this chapter, the authors provide evidence for the potential of various Web 2.0 applications in higher education through a review of relevant literature on both emerging educational technologies and social networking. Additionally, the authors report the results and implications of a study exploring faculty awareness of the potential of Web 2.0 technologies (blogs, wikis, social bookmarks, social networks, instant messaging, internet telephony, and audio/video conferencing) to support and supplement classroom instruction in higher education. Also, using the Decomposed Theory of Planned Behavior as the theoretical foundation, the authors discuss factors that influence faculty decisions to adopt specific Web 2.0 technologies. The chapter concludes with a discussion of the implications of the study and recommendations for future research.