Information literacy (IL) is a necessary skill crucial for effective functioning in today's knowledge society. This study seeks to explore Israeli librarians' perspectives toward major components of information literacy. Do librarians find there is a need to redefine the concept? Who do they think should teach it? How do they think Web 2.0 platforms and social networks influence the concept of IL? The study used an online survey and data analysis consisting of two phases: a quantitative and a qualitative one. Findings reveal that, in general, librarians see little or no need to revise the traditional definition of information literacy, even though they expand it while including Web 2.0 and digital-literacy characteristics within its scope. In addition, respondents think that it is more a library role than a faculty role to teach information literacy, and they view positively the possibility of integrating Web 2.0 platforms into IL courses.