Learning is a lifelong process. Many countries in the world, basically the European and Organization for Economic Cooperation and Development (OECD) countries, have adopted it as an important vehicle for human development. They have also made it a policy agenda for meeting the human capital need for twenty first century for economic prosperity. However, the concept of lifelong learning is still new in many developing countries including Nepal. With UNESCO's efforts some policy documents have made some provisions to enhance non-formal education in Nepal; however, no specific provision has been made so far to enhance informal learning despite the fact that that has been proved as one of the vital constituents of lifelong learning. This article discusses some of the fundamental concepts attached with lifelong learning and also sheds some lights on the prospects of lifelong learning in developing countries, with particular focus on the Nepalese contexts.