There has been a burgeoning interest in competency-based education and credentialing in professional psychology. This movement gained momentum at the Competencies Conference: Future Directions in Education and Credentialing in Professional Psychology. After defining professional competence, the author focuses on the identification and delineation of foundation, core, and specialty competencies within professional psychology. Attention is then paid to developmentally informed and innovative approaches to training in these competencies. Finally, consideration is given to state-of-the-art approaches to the assessment of these competencies for educational and credentialing purposes.