The current study aimed at identifying the indicators of practicing governance in Saudi universities in the light of the principles of Organization for Economic Cooperation and Development (OECD). It also underlined the challenges facing governance practice and introduced a proposal for governance principles in Saudi universities. Descriptive approach utilized and a questionnaire applied to a random stratified sample consisting of 113 Deans from various Saudi universities. Results indicated that the indicators of practicing governance in Saudi universities in the light of (OECD) principles are (medium). Challenges facing the practice of governance in Saudi universities obtained a high degree. Education experts agree on the appropriateness of the proposed principles for university governance by 99%. The study recommended the necessity of activating the practice of governance principles in various activities and processes of universities.