This study examined entrepreneurial literacy and startups businesses among universities’ graduates in Ondo State. The study used survey research design. Primary sources of data collection was employed through the use of questionnaire. A total of five hundred and twenty-five (525) questionnaires were administered to startups owners who are graduates from universities in Ondo State. Data were collected, processed and analyzed using Statistical Package for Social Sciences (SPSS v 25). Further analysis was conducted using multiple linear regression to test the hypotheses of this study. The findings of the study established that entrepreneurial self-efficacy has positive impact on the success rate of startups business among universities’ graduates in Ondo State. Also, the study submitted that entrepreneurial intention has no significant positive impact on success rate of startups business. Finally, this study established that entrepreneurial mindset has positive impact on the success rate of startups among universities’ graduates in Ondo State, Nigeria. The study concluded that an increase in entrepreneurial education will lead to an increase in the success rate of the startups in entrepreneurship. The study recommended that there should be training, on a regular basis for all lecturers and instructors on entrepreneurial literacy; they should be sponsored to attend local and international conferences to acquire more knowledge and innovation, so that they can effectively transfer entrepreneurial skills into the students and graduates.