Problem-based learning (PBL) and science, technology, engineering, and mathematics (STEM) are two acronyms widely visible in education literature today. However, few studies have explored these in connection with one another, specifically with regard to teacher preparation. This study investigated how 47 prospective elementary teachers developed PBL units and how they integrated STEM and other disciplines into those units. It also addressed the affordances and constraints of integrated STEM as perceived by the prospective elementary teachers. Data sources in this multimethod study included PBL units and interviews. Findings revealed that all of the units integrated at least two of the STEM disciplines, as well as literacy, in a variety of ways. The prospective teachers articulated perceived benefits of integrated STEM, such as: making connections across content areas, preparing students for the real world, teaching students that failure is not a bad thing, and providing future opportunities. They also addressed perceived barriers of integrated STEM, such as: having limited experience with the content, diminishing the effect of individual content areas, and needing better curriculum alignment. Overall, this study provides evidence that PBL can be a pedagogical approach to integrate STEM. Implications for teachers, teacher educators, and curriculum specialists are discussed.