The report, Higher Education: The Next Steps, published today, says a University of Jersey would not be cost effective and instead suggests the Island sets up a Jersey Higher Education Academy.
The review has been put together by a steering group led by the former vice-chancellor of Coventry University, Dr Michael Goldstein.
It says higher education is a ‘necessary and critical component of a strong Jersey economy and of a dynamic Jersey society’ but goes on to reject the idea of a university.
The report says Jersey needs to start making more of the talents of its own people rather than relying as much as it does on importing skills and intellectual ability from other countries.
Dr Goldstein said: ‘The emphasis has been to seek to ensure that Jersey has the educated and skilled workforce which will sustain its social and economic performance as a world-class economy.
I believe that implementation of the review recommendations will be of invaluable, positive benefit to Jersey in the years ahead.’

