The purpose of this research is to study the characteristics of a learning organization and then to determine the factors which would allow a private university to achieve such status. The study considers five aspects of the organization’s subsystems based upon Michael J. Marquardt’s theory: learning, organization, people, knowledge and technology. The research adopted a qualitative research procedure. A survey was administered to collect all faculty and staff’s perspectives, and analyze them using the Learning Organization Profile. The results were used to formulate questions for interviews with four of the university’s top executives. The university being studied was found to have a high degree of learning organization, in compliance with the five aspects framework. Thirteen influencing factors and six vulnerabilities were identified. The concept of organization development toward learning organization as defined in this study can be applied to other types of organizations. The methodology used in the study can be adapted to identify supporting factors and weaknesses, and then to initiate appropriate projects which would lead to successful implementation.