The possibility and nature of bilingual advantage for theory of mind (ToM), that is, young bilingual children outperforming their monolingual peers, have been discussed increasingly since the first research on the topic was published in 2003. Because accumulating evidence demonstrates a ToM advantage for bilingual individuals, in this article, we focus on how this advantage arises. We consider how current theoretical positions, including "executive function," "metalinguistic awareness," and "sociolinguistic awareness" accounts, explain such an advantage in young bilingual children. These theoretical accounts receive some, but only partial, support, so further research and theory are needed to understand comprehensively the relationship between bilingualism and ToM.