What makes a world-class university? There is no universal formula; each country chooses its strategy for implementing this initiative (Altbach, 2009; Altbach, 2011; Altbach & Choudaha, 2018). This chapter aims to provide an overview of the Kazakhstani experience of creating a world-class university, with a special focus on the impact of Nazarbayev University (NU) on the higher education system. The discussion offers important insights for scholars, policymakers, and practitioners examining similar initiatives across the world. The chapter starts with a description of the historical and policy context as well as key features of the NU university model. Then, the unique features of NU’s evolution as a flagship institution for the higher education system are presented. The following sections explore NU’s impact on the broader higher education context. The last section focuses on perspectives of NU’s development in the near future.