The model of entrepreneurial universities is believed to be the main driving force for independence and innovation and appropriate response to environmental turbulence and rapid market changes. In addition to teaching and research, the accomplishment of becoming entrepreneurial is seldom immediate and requires a transformation process. This study aimed to assess the transformation process of a private university in Indonesia in becoming entrepreneurial. Its analytical framework was based on an entrepreneurial university model with six variables: actors, university governance, entrepreneurial activity, entrepreneurial output, support measures needed, and challenges. Using a descriptive-analytic method, the results obtained from the questionnaire administered to 541 respondents, belonging to various groups from within and outside the university indicated that University “A” is currently treading an entrepreneurial path. The assessment results for the perceived value from entrepreneurial indicators, at an average score above 4, implied a positive perception of entrepreneurial implementation. Subsequently, mapping the results into a transformation model positioned the university close to the entrepreneurial paradigm.