Ageism is a problem in aging societies. Clinical psychologists and undergraduate psychology students have shown negative attitudes toward older adults. However, no specific measure against ageist myths in the psychotherapeutic context is available. This study aims to develop and present the psychometric properties of the Ageist Myths about Psychotherapy Questionnaire (AMPQ). These issues were examined by surveying 222 psychology graduates at higher education institutions about their attitudes and behaviors concerning psychotherapy with older adults, negative stereotypes toward aging, and attitudes toward dementia. Using principal components analysis, 10 items were retained and one factor was obtained with an acceptable reliability index. Significant associations were found between the AMPQ and negative stereotypes toward aging, and attitudes toward dementia. Results revealed that universities and colleges with psychology programs have an ageist bias. Implications for college formation in aging, and older adults with mental health problems, are discussed and presented.