Mentoring has a long and distinguished history dating back to ancient times. This paper provides an overview of the mentoring process, reviews the pertinent literature, and discusses the implications of mentoring for new entrants into the field of psychology. Research suggests there are two types of mentors: formal and informal. Formal mentors facilitate a young adult's advancement and development, while informal mentors provide mentoring functions because they derive personal satisfaction from the mentoring relationship. These various functions mentors perform for their proteges may be classed into two broad categories: psychosocial and career. Psychosocial help includes efforts which enhance proteges' sense of competence, identity, and effectiveness in their professional roles. Career functions include those actions which enhance career advancement as a result of the mentor's experience, sponsorship, protection, and influence. Nevertheless, although numerous studies have evaluated the content, process, and outcome of mentoring relationships, little is known about their formulation. It is known that people with mentors become quickly socialized to an organization or profession, obtain high-visibility assignments, and stay abreast of future opportunities. It is concluded that potential mentors rely on proteges to initiate the relationship, and to nurture its continuance. Graduate students, in particular, should seek a mentor. Contains 24 references. (RJM)