The introduction of digital libraries in the modern world has become extremely important as it is an integral part of the information systems. The purpose of this review paper is to examine digital library services through reviewing their concept, application, benefits, challenges, and future prospects. The paper demonstrates the main features and roles of digital libraries by focusing on a number of aspects. It discusses what benefits people get from using digital libraries as a source for obtaining information. Digital libraries offer various kinds of electronic information resources that include e-books, e-journals, databases, institutional repositories, multimedia, and educational materials. The study shows how digital libraries can contribute to the development of education because they help people teach and learn more efficiently. Moreover, the paper identifies a number of factors and issues that should be taken into account when dealing with digital libraries. These include issues of intellectual property rights, perspectives of users, infrastructure and technology, policy and law, and information services. Although digital libraries possess many positive characteristics, they still pose a number of challenges. They include the lack of technological skills among users, poor internet connectivity, intellectual property rights issues, lack of funding, resource management difficulties, and others.