Turkey's higher education and scientific research authorities have categorized the country's universities as innovative and entrepreneurial universities, research universities, or regional development-oriented universities, and have encouraged them to work in the corresponding direction. With COVID-19, digitalization has become an exceptionally prominent issue in higher education. The European Commission has declared digitalization in higher education to be a priority area. With these factors in mind, a digital research faculty model has been developed for Istanbul University Faculty of Economics, using 20 peer faculty websites to establish proof of concept. This model can be adapted to the university as a whole in a more general framework or to a particular department in a narrower context. The model has five components: (i) It is informed by ideas and discourse in online education, education 4.0, web 3.0, micro badges, digital transformation, research concepts, the Bologna Process, qualification frameworks, 21st century skills, core competencies, accreditation, and institutional evaluation; (ii) it proposes new generation offices and committees in line with the new education paradigm; (iii) it implements metrics related to digitization, stakeholder engagement, research faculty, online education, graduate profile, and governance model; (iv) it engages in a communication strategy with internal and external stakeholders; and (v) it establishes a governance model that will embody and implement the new approach. The model has been implemented on the basis of 20 peer faculties, but could be expanded for use by the entire university or narrowed for the benefit of a specific program.