This article presents a new tool called Critical Evaluation Capital (CEC) designed to address issues of equity and social justice in program evaluation. CEC is grounded in the tenants of critical race theory and inspired by Yosso's work on community cultural wealth which raises critical issues of positionality and access. CEC is a system for identifying, quantifying, and disrupting the impact of different kinds of power and privilege (named here as capital) that influence the evaluation process and may distort its findings and/or alter its impact. CEC is not meant to be an entirely new evaluation framework or approach, but rather it is designed to be used as a "tool" "in conjunction" with other contemporary evaluation methodologies, specifically those that reposition the role of the evaluator from an "objective" outsider to an engaged stakeholder. I introduce and describe herein seven foundational categories of CEC, including "framing capital," "identity capital," "connectivity capital," "inquiry capital," "risk capital," "symbolic capital," and "dissemination capital," along with a series of accompanying critical questions to guide reflective practice for each capital. I also describe how CEC can be applied across the evaluand--both proactively and retrospectively. I conclude with some key opportunities and challenges CEC presents for evaluators and other key stakeholder groups in the evaluand.