In the recent years, parental involvement in a child’s academic development has been of great scientific interest. As parental involvement is a broad term it encompasses many parental activities that need to be further specified. In line with this, no widely accepted theoretical framework of parental involvement exists so far. Moreover, in terms of assessment of parental involvement a large variety of instruments have been applied: Parental involvement has been assessed by behavioral observations, self-reports, or reports by others. In spite of a missing definition and widely accepted theoretical framework, a myriad of research has been conducted to identify determinants and correlates of parental involvement. In this context, several empirical studies have revealed that the way parents get involved in their children’s schooling depends on a diverse set of variables, which refer not only to the parents themselves, but also to the family setting and the school context. However, the main body of research has focused on the effects of parental involvement. Although it has been found to be a significant predictor for children’s academic success parental involvement also seems to show changes related to the child’s age and grade level. Moreover, the different dimensions of parental involvement seem to have differential predictive value for students’ academic outcomes. Less empirical studies have been done referring to the associations of parental involvement with academic outcomes other than performance. Moreover, the very few intercultural studies conducted in this field suggest there might be similarities but also differences between Western and Eastern parents in the way how they get involved with their children’s education. Based on the presented aspects, future research should aim at developing a consistent definition and widely accepted theoretical framework of parental involvement as well as further investigate underlying determinants and mechanisms.