The proliferation and utilization of handheld mobile technology among undergraduates for mobile learning cannot be underestimated. This study was geared towards investigating individual and technological factors affecting the perceived usefulness of mobile technology by undergraduates in university of Ilorin, Nigeria. The study was a descriptive research of the survey type. Samples were randomly drawn from all students in the 15 faculties. A total of 100 undergraduates were sampled. Two research questions, and one hypothesis were answered and tested respectively. Mean was used to answer the research questions while Pearson Product Moment Correlation (PPMC) was used to test the relationship between the technological and individual factors. Findings from the study revealed that the technological and individual factors positively affected the perceived usefulness of mobile technology for learning among undergraduates. Also, there was a positive relationship between technological and individual factors that affected perceived usefulness of mobile technology. Based on the findings, it was concluded that both the individual and technological factors affected the perceived usefulness of mobile technology for learning positively. It was recommended that students should be encouraged in the use of Mobile technology devices for learning.