With the Public Finance Administration and Control Law numbered 5018 went into effect in 2006, the practice of performance based budgeting system focused on efficiency use of resources has begun in Turkish universities. This new system basically depends on strategic planning. Therefore, this study examined missions, visions, objectives and targets of the very first strategic plans of 23 Turkish public universities founded in 1992 prepared after the implementation of the law of 5018 by using content analysis method. In this context, the strategic plans of the universities were analyzed in terms of their missions, visions, objectives and targets, and also general trends and diversifications were screened out. In addition, some information were given about whether universities could reach their performance targets setting in their strategic plans or not at which level. Therefore, it is important to note that this study is the first comprehensive content analysis studying strategic plans of universities after the Public Finance Administration and Control Law numbered 5018 went into effect in Turkey.