This paper focuses on an in depth literature review based on preservice teachers perceptions of their multicultural competence in teaching diverse students. More specifically, the literature review was framed around findings from a study looking at the gap between increased diversity of students and the level of multicultural competence of preservice teachers at a local university was investigated in this qualitative case study. Inductive data analysis results indicated that preservice teachers perceived a need for additional multicultural competence including increased awareness, knowledge, and skills in working with diverse students. A professional development training workshop design was created to address four dominant themes from the analysis. The literature review supports the prominent components addressed by the professional development training workshop. Adequately preparing preservice teachers for teaching diverse students continues as a focus in teacher preparation programs. As a faculty member at the local university, school of education, ongoing research focused on building preservice teachers multicultural competence remains essential.