The purpose of this article is to discuss competencies required for practicum supervision within the field of library and information science (LIS) education. In doing so, this study attempts to propose Practicum Supervision Competencies Framework for professionals working in libraries and similar information organisations. The study aims to contribute to the body of knowledge on supervision of experiential learning programmes such as practicum and internships in the field of library and information science. Constructivist Grounded Theory approach was used for collection and analysis of data. Qualitative data was collected through semi-structured interviews with 43 participants that included library and information science professionals and students. Using constant comparative method, suggested in the Constructivist Grounded Theory literature, the components of the framework were developed and then validated and strengthened through the literature on competencies for library and information science professionals. Qualitative data analysis software NVivo 12 pro was used to support coding, category development and constant comparison methods in the data analysis process. Results of this study propose a framework for library and information science practicum supervision competencies and signify its importance for the academia and industry. The proposed framework is composed of five distinct but interrelated components, that is, Interactive, Management, Pedagogical, Professional and Technology which are important for practicum supervision in the field of LIS. The study also discusses empirical insights about the significance of research on practicum supervision within the field of library and information science as a distinct area. Practical implication of research encompasses several dimensions: methodological, theoretical, managerial and academic. For example, the framework should attempt to help better understand gaps between potential and actual competencies required by practicum supervisors in the field of library and information science. Research results may lack generalisability because of the chosen research method. However, researchers in other regions of the world are encouraged to test the proposed framework further.