| SharePoint List | Document Library |
| Can have more than one documents attached to the list item | Does not have document as an attachment instead it stores the document in library as an item |
| Only major version is supported | Major(Published) and minor(draft) versioning is supported |
| Do not support check-In/Check-Out feature | Supports check-In/Check-Out feature |
| Documents added as attachment are not included in Search index/result | Documents in library are included in search results |
| Attachment document in list item will not work with eDiscovery feature | Documents in library will work with eDiscovery feature |
| Cannot enable location based default value in list | Can enable location based default value in document library |
| Cannot have document set | Can have document set |