Purpose: This study aims to provide an analysis of students' perceptions of the role of generative artificial intelligence (GenAI) tools in education, through five axes: (1) level of knowledge and awareness, (2) level of acceptance and readiness, (3) the role of GenAI in education, (4) level of awareness of potential concerns and challenges, and (5) The impact of GenAI tools on achieving the sustainable development goals in education. Materials and methods: The study followed a descriptive quantitative methodology based on surveying through a questionnaire. The sample consisted of 1390 students from 15 Saudi universities. Results: The students have positive perceptions towards the role of GenAI tools in education, as students have a high level of awareness and acceptance of adopting these tools. In addition, students are highly aware of the role of GenAI tools in improving their understanding of complex concepts, developing skills, improving their self-efficacy, learning outcomes, providing feedback, and making learning meaningful. The results also confirm their general awareness of the concerns and challenges. A relationship exists between students' perceptions of GenAI and their scientific specializations, as students in computer sciences showed greater awareness regarding concerns and challenges, whereas students in agricultural sciences showed greater awareness of the impact of GenAI tools on achieving sustainable development goals. Conclusions: The study offers valuable insights on GenAI adoption in higher education, also there is an urgent need to consider developing appropriate use policies, spreading awareness, and creating systems capable of detecting unethical cases.