Episodic prospection is the ability to mentally simulate personal future events that are rich in contextual detail and plausible for the individual. It therefore incorporates episodic information (who, what, where, and when of a particular event), as well as details about one's self (e.g., knowledge, goals, motivations and desires). The ability to mentally simulate personal future events is thought to serve an adaptive purpose as it allows the individual to plan actions that align with his or her future goals and challenges. This review seeks to integrate research exploring how changes in episodic memory and self-concept, and their associated neural mechanisms, contribute to the development of episodic prospection between childhood and adolescence. Elucidating the mechanisms contributing to this development is critical for understanding its potential influence on learning, goal achievement, and pedagogy between childhood and adolescence.