This study aims to explore the impact of new managerialism which has prevailed in the reform of public sectors since 1980s on the university governance models including the British model, the American model and the Continental model. It is worth putting particularity of university and subtle balance between it and government under scrutiny when its governance matters were penetrated by the managerial ideology in the business world. The study comes to the conclusion as follows. First, All the countries studied is pursuing efficiency of higher education institutions by introducing New Managerialism. Second, the methods that market mechanism implemented were differed by the historical and cultural scenarios of the countries. Third, all the countries studied were connecting funding mechanism with the university’s performance and accountability Furthermore, the relationship between government and university has undergone a substantial change. Last, the executive authority of the university internal governance was strengthened.