In a society focused on achievement and success, the possibility of failure is often minimized or denied. Nevertheless, the very nature of a competitive society is that success can only be attained by a few. Although many individuals strive for success, others behave in ways that minimize the risk of failure, even at the cost of attaining success. The concept of fear of failure has been investigated from widely different perspectives, resulting in an enormous literature. This chapter focuses on four perspectives: (1) the psychodynamic conceptualization of fear of failure; (2) fear of failure as viewed by the need achievement literature; (3) fear of failure versus fear of success; and (4) fear of failure as an antecedent of academic procrastination. Each perspective has used different ways of assessing fear of failure and has conceptualized a specific model. Gender differences, and, when applicable, racial differences are reviewed, as is the research on fear of failure according to each model. Finally, each section provides implications for intervention.