This research paper refers to the utilization of the existing industrial buildings and their reuse as educational facilities. The potential of restoration and transformation of industrial fabric that could be used as schools for both the primary and secondary education, for university buildings and nursery schools is also explored. The first part of the paper refers to issues concerning the organization and function as well as the international views and regulations for the school buildings. In the second part, the history of the industry and the industrial buildings is described both within the international level and the Greek territory, which eventually ends up in explaining what consists the industrial heritage of Magnesia prefecture. In the third and final part of the research paper, examples from the city of Volos are used in order to present a detailed evaluation of the potential of the industrial buildings that could be incorporated to these buildings used to fulfill educational needs as were mentioned above.