The purpose of this study is to determine how strategic planning is implemented in Malaysian Islamic public universities and how it can further improve the management and administration of those institutions. The study was done on a comparative method between two largest Malaysian public universities, namely, the International Islamic University Malaysia (IIUM) and the National University of Malaysia (UKM). The researcher considered in particular the similarities and differences between the two universities’ strategic planning and the potential benefits and limitations of the same. The researcher employed a survey instrument consisting of a triangulation of interviews, document analysis and direct observation. Analysis of the survey responses indicated the following findings: (a) Both universities share similarities in certain elements of their strategic planning, and differ in certain other elements of their strategic planning; and, (b) Respondents agreed that strategic planning has a considerable number of potential benefits as well as limitations.