This study is aimed at exploring the rationale behind academic mentor's success, as mentoring is a developmental process involving capacity-building, knowledge transfer and employee retention in organizations. This paper is a conceptual study conducted with an extensive review of relevant literature on mentoring. The reviewed literature centres on meaning, forms and types of mentoring, qualities of a good mentor, stages and benefits of mentoring, challenges of mentoring, mentoring and academic excellence. This study was anchored on the descriptive mentoring theory by Kram (1985). The study found that regardless of how well a mentor and mentee fit together, either in form or in a positive way, the relationship should be professionally structured as well as considered and respected by both parties. The study also concludes that most successful mentorship usually evolve into friendship with both partners learning and providing support for each other. This paper contributes in the existing literature by examining the rationale for successful mentorship and ways to overcoming mentors challenges. No previous research has illustrated the ways mentorship could lead to academic excellence in Nigerian tertiary institution.