The introduction of the internet has made online shopping a huge success that has contributed to economies worldwide. Online shopping has created the opportunity for convenience, ability to shop round the clock thereby decreasing dependence on store visits, saving travel costs, increasing market area, decreasing overhead expenses and access to multiple options for students and retailers. However, in Lagos State, despite the increased internet penetration amongst students, many still do not engage in online shopping so this study investigates the awareness and adoption of online shopping among selected undergraduate students of tertiary institutions. The theories used for the study are Technology Acceptance Model and Diffusion of Innovation theory. Survey method was used and three hundred questionnaires were administered. Findings reveal that there was a high level of awareness amongst undergraduate students about online shopping as compared to those who were not aware of its presence. The study also shows that despite the fact that the undergraduate students were fully aware of the presence of online shopping, many of them did not fully adopt it for use due to fear of being scammed, low quality of items delivered as against what was showcased, unwillingness to release personal information and internet network issues. This study recommends that online shopping platforms should employ the use of experiential marketing to help the students engage and participate in the use of online shopping platforms so they can see the opportunities it offers them. Online shopping platforms should also ensure they are customer specific in their deliveries. The study also recommends the introduction of cashless policy so that people can begin to see the need to purchase goods online and the promulgation of a law that punishes fraudsters on the internet to assuage the fears of the students from being scammed.