Studies on forgiveness have only recently emerged in the psychological literature. Despite evidence that forgiveness is associated with positive therapeutic outcomes, the concept has received little theoretical consideration in mainstream psychology. Existing definitions and models of forgiveness differ widely, and little attempt has been made to integrate these diverse approaches. Based on a review of the Medline and Psychlit databases, the present article evaluates current conceptualizations of forgiveness in the psychological literature. The values and limitations of each approach are discussed with reference to two case studies: a close interpersonal relationship and a human rights violation presented to the Truth and Reconciliation Commission in South Africa. A new theoretical model, integrating the most valuable aspects of existing approaches, is proposed.