This article sets out to identify and discuss the changes that have taken place in Finnish teacher education during the last 40 years (1974-2014). A brief history of teacher education in Finland is presented, followed by the goals and aims of current research-based teacher education in Finland. Finally, the major changes in Finnish teacher education during the last 40 years are identified and discussed along with challenges for the future. These include the fact that with each passing year teacher education in Finland has become increasingly research-based. The ethical role of the Finnish teacher has changed from being a religious and moral example to being a principled professional who needs moral competence in pedagogical encounters. Teachers also need to master the rapid developments in information and communication technology in order to function in the same learning environments as their students.