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The study investigated the use of social media networking sites and academic performance of Library and Information Science (LIS) undergraduates in federal universities in Southern Nigeria. In carrying out this study, three research questions and one null hypotheses were tested at P < 0.05. Descriptive survey design was utilized for the study. The population for the study is 1,440 undergraduates in the Department of Library and Information Science in federal universities in Southern Nigeria. The total enumeration and accidental sampling techniques were used for this study. The instruments used for this study were a questionnaire with the title “Usage of Social Networking Sites and Academic Performance Questionnaire (USNSAPQ)” and the Cumulative Grade Point Average Scores of the undergraduates for 2015/2016 academic session. The data obtained were analysed, using frequency, mean, standard deviation and Pearson Product Moment Correlation statistic. Findings revealed that the academic performance of undergraduates in LIS was in good standing. The reasons for undergraduates’ usage of social networking sites were to communicate and interact with friends, to send and receive messages from friends, to read news update, to be informed about social events and for leisure/entertainment. Undergraduates never made use of social networking sites for academic purposes. It was further revealed that there was no significant relationship between usage of social networking sites and academic performance of undergraduates. The study recommended among others that orientation, workshop and seminar should be organized by librarians and university authorities on the use of social media sites for academic purpose. Undergraduates’ attendance at such orientations, workshop and seminars should be made compulsory.