Institutes of higher education are investing in information and communication technologies (ICT) with the hope of revolutionizing higher education. Current approaches of using technologies for teaching and learning, however, fall short in terms of preparing students for the 21st century. We present various factors that shape learning in the 21st century: demands of the knowledge-based economy; advances in technologies; and changes in perspectives of learning. Consequently, we argue that learning as knowledge creation is a promising approach to prepare students for the 21st century. It entails engaging students in creating knowledge artifacts and in collaborative discourse that aim at continual improvement of these artifacts. It helps to develop in students the innovative disposition and epistemic agency to explore new perspectives; propose new ideas; and experiment with new ideas. Two case examples are presented to illustrate the knowledge creation approach and to compare it with the current approaches.