Mentoring, being a widely excepted concept around the globe is a must in the field of education. However, this concept is yet not formally introduced in the education sector of Bangladesh. Mentoring service, at the moment is mostly needed for the undergrad level students of Bangladesh. Thus the purpose of this study is to explore the perception of the teachers and the students about mentoring as well as the potential barriers of formally introducing mentoring. This small scale qualitative study has been carried out in five universities of Bangladesh where the total number of respondents were fifteen including five teachers and ten students. Data was collected using semi-structured interview schedule and was analysed thematically. Findings suggest that most of the teachers and students are not quite aware of the concept of mentoring, thus proper training, infrastructural development, awareness raising programs should be conducted before formally introducing mentoring for the students.