Drug abuse directly influences the economic and social aspects of a country. The objectives of this study were to determine the knowledge level and perception about drugs of abuse from students of private Universities in Dhaka, Bangladesh. Private University students were chosen as that they represent parts of the youth of Bangladesh who mostly abuses illicit drugs. Data were collected from the students by a questionnaire form. Samples consisted of both undergraduate (83%) and graduate (17%) students (n=344). Most of the participants were male (82%) and Muslim (89%). About 23% of the participants were using different or at least one illicit drug. Almost all students (95%) had some sort of knowledge about drugs of abuse including their harmful effects. Despite some limitations, this study gives an idea about the level of knowledge and perception towards drugs of abuse from students from private Universities. The Government of Bangladesh should take immediate initiatives to increase the knowledge level on drugs of abuse among young students otherwise they will turn out to be potential user of illicit drugs.