This paper investigates the evolving landscape of European doctoral education and its impact on the doctorate's identity and value. It conducts a comprehensive analysis, drawing from both extensive literature review and empirical data from the Portuguese context. This examination reveals intricate changes in doctoral education, driven by a heightened responsiveness to societal and candidate expectations. We begin by setting the stage for these transformative shifts, providing an overview of the ongoing changes. Subsequently, we investigate how doctoral candidates are navigating and endorsing these transformations, as well as how universities, doctoral programmes, and pedagogical approaches are adapting to the evolving doctoral landscape. We briefly address flagship programmes as markers of this reform. Finally, we underscore the challenges and opportunities posed by these changes, while also providing alternative perspectives for reshaping the doctorate in a dynamic and ever-evolving educational environment.