The introduction of electronic learning (EL) has been initiated in Higher Institutions of Learning (HIL) as an attempt to improve on education institutions’ service delivery. By adopting the Technology-Organization-Environment (TOE) framework, this study was aimed at investigating the determinants of the e-learning adoption in HIL where eight TOE factors were examined. The study adopted a quantitative approach, a descriptive research and cross-sectional survey for the research design. A questionnaire was developed based on the eight identified TOE study constructs and administered to a population of 5438 students in three Faculties of Makerere University Business School (MUBS). In regard to data analysis, factor analysis and assessment of reliability and validity of the measurements items was done. Finally, a multiple regression analysis was carried out to evaluate the relationship between the predictor variables and e-learning adoption. The findings of this study imply that the TOE can be used to analyze ELearning adoption in Universities and other HIL as relative advantage, complexity, compatibility, size, competitive intensity and regulatory environment were identified as significant predictors of EL adoption. Whereas top management support and IT/IS knowledge are insignificant predictors in the adoption of EL.