This research report from the National Academy of Education promotes an equity-centered perspective on evaluating teacher preparation programs, addressing the disparities in educational opportunities across various groups in the United States. It emphasizes the pivotal role of teacher preparation evaluation in efforts to mitigate these inequities. The authors propose that equity should be explicitly defined as a primary goal and outcome of teacher preparation evaluation, influencing its design, interpretation, and implications. By analyzing major reports from 2010 to 2020 that focus on teacher education evaluation, the paper highlights the need to integrate equity considerations into evaluation frameworks. It suggests developing comprehensive equity indicators for teacher preparation evaluation, catering to diverse stakeholders such as educators, community partners, policymakers, and advocacy groups. The authors underscore the significance of prioritizing equity in reshaping evaluation models to enhance teacher preparation programs effectively.