This study investigated various problems of conservation and preservation of library resources in libraries. Particularly, it examined the overview of preservation and conservation of library resources. It also studied the causes of deterioration of library information resources, among which are: natural aging process, level of use of library materials, inherent chemical content used in the process of paper making, high temperature and fluctuating relative humidity, improper handling of library materials among many others were equally discussed. Various preventive measures were equally discussed. Different challenges facing preservation and conservation of library resources in Libraries were presented. Useful suggestions were also made to ameliorate the situation.