Over the years, interpersonal communication among farmers has been identified as a way farmers share agricultural knowledge among themselves. During this process ideas are exchanged. In the face of inadequacy in the number of extension personnel in Nigeria, there is need to document the effectiveness of farmers’ knowledge exchange as an alternative channel of disseminating innovations. Hence, this study assessed the determinants of knowledge exchange on drought tolerant maize (DTMA) technology in Kwara State, Nigeria. A threestage sampling procedure was used to select 391 main plot managers to be respondents for this study. The mean age of the respondents was 47.6 years. Majority (78%) of them were males, 85.3% married and 81.9% had formal education with an average household size of 9 persons and 20.9 years of farming experience. Data were collected through interview schedule and analyzed using both descriptive and inferential statistics such as frequency, percentage, mean, standard deviation and multiple regression analysis. A small proportion (20.1%) of the respondents belonged to the category of very low knowledge exchange of DTMA. Plot neighbor was indicated as the major communication network through which knowledge exchange occurred among the farmers. Comparative benefits of the technology (x̅ = 3.55) was identified as the most important motivation influencing farmers’ decisions to exchange knowledge among themselves. Age, household size, contact with extension agents, and farming experience had significant contribution to the extent of knowledge exchange among the farmers at 0.05 level of significance. It is recommended that farmer-to-farmer extension should be strengthened since it could bridge the gaps in technology transfer and promote adoption of agricultural technologies.