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The aim of this study is to research the relationship between financial inclusion and educational level in developed and developing countries. For this purpose, two different models have been established and Johansen-Fisher cointegration test, Fully Modified Ordinary Least Squares method (FMOLS), Dynamic Ordinary Least Squares method (DOLS) are utilized while Granger causality analysis is also performed according to panel vector error correction model. The study examines the period 1990-2017 and covers 47 countries. Consequently, it is specified that there is a long-term cointegration between financial inclusion and educational level in developed and developing country economies and no casuality relationship in the short term. Furthermore, it is concluded that educational level has a statistically significant and positive effect on financial inclusion level in all models in which the long-term relationship would be estimated. [ABSTRACT FROM AUTHOR]