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This study aims at reviewing the role and place of academic libraries in creating oral history collections with the aim of its preservation and application in these libraries. The research methodology is systematic review. To this end, the related studies were searched and identified from 10 international databases in 1983 to 2019. Out of which 23 most related ones were used for present study. For validation purpose, other experts than research team were used. The research findings indicated that academic libraries could stabilize their role and place in creating collections based on oral history through its identification, preservation, promotion and accessibility, recreation of the role of librarians, archive and documentation, organization and digitalization. The systematic review of oral history in academic libraries highlighted the need to carry out practical and theoretical studies at library level. Oral history is an instrument for extraction of history from depths and has determining role in connecting modern world with traditional knowledge at research communities; therefore, preservation and promotion of oral history by libraries and information centers should be taken into account.