Information technology has impacted the field of preservation and conservation in two essential ways. First, information technology produces digital information objects that require preservation; secondly, information technology provides useful tools for carrying out preservation and conservation activities. Metadata is a digital information tool that preservation and conservation can use to safeguard digital information, to enhance preservation efforts, and support a more dynamic and functional exchange of information for research purposes. Digital preservation, metadata, and the application of information technology for preservation relate fundamentally to one another. Consideration for one matter requires consideration of the other two issues. This effort to investigate metadata in relation to the field of preservation is a practical look at how preservationists and conservators react to metadata in light of digital preservation's increasing importance and how metadata can benefit the field through application in preservation activities. After reviewing current metadata research and the preservation community's involvement, this paper investigates the significance of metadata to the preservation field and finally presents suggestions for further consideration by the preservation community.