Ecosystems are particular areas in nature where all living and nonliving components interact with each other and their environment. The term has also been used as a metaphor in scientific and social contexts. Learning ecosystem is one of these which studies the components and interactions of learning processes. Augmented reality is among the components of a (mobile) learning ecosystem. Potentials of integrating augmented reality in mobile learning are not denied, yet there are concerns that these might turn into short living fashion items if their long term consequences are not considered. Defining a mobile learning ecosystem, clarifying the position of augmented reality component within, describing its relations with other components and searching for a balance in these interactions would be an answer to these concerns. This chapter gives an answer by presenting mobile learning ecosystem and augmented reality definitions derived from a Delphi study carried out in 2016 in Turkey. The results and discussions present a "good fit" framework for a viable mobile learning ecosystem.