This paper examines the development of Information and Communication Technology (ICT) and its relation to the development of human capital in Malaysia as a country undergoing transformation into an ICT-driven and knowledge-based society. Education and training, being the key variable of human capital, is examined in terms of the government expenditure on education and training, years of schooling, number of enrolment and level of education of the labour force. ICT development is measured in terms of the personnel involvement in Research and Development (R&D) in related areas of technology or the development allocation and expenditure for R&D, and the extent of ICT usage in the various sectors of the economy and population. (Contains 13 tables.)