In the present era of information technology the system of education has undergone a lot of changes. Open and Distance Learning (ODL) around the world is perhaps the most important evidence to it. Despite the fact, ODL has not been popular in Bangladesh for a variety of reasons, though currently a few academics are either thinking about studying or studying on Open and Distant modes. This paper, considering Levis' (2002) opinion about the necessity of e-learning, Goodson's (2000) principles of teacher professionalism, Nordkvelle's (2006) view on the challenge of ODL-organization, Boshier's (1971) Education Participation Scale (EPS), and Houle's (1961) philosophy of six classic needs of a practicing professional, tries to find out the role of ODL in the professional development of higher education teachers in Bangladesh on the basis of a study. The related survey involves a sample of more than 100 teachers from a number of ten private and public universities in Dhaka. It is expected that ODL might play a significant role in the professional development of tertiary level teachers in the country. The paper also explores the possible advantages teachers may enjoy and difficulties they may face in pursuit of these modes of education. The Ministry of Education can play a great role in alleviating the problems with and barriers to ODL. However, the academic heavyweights also have some responsibilities in this regard. (Contains 6 tables.)