This article explores the identity of NPs as clinical practice preceptors and mentors for NP students, including the inherent conflict created for preceptors by these overlapping role expectations. Also examined is the nurse practitioner-student relationship with phases of the relationship between student and preceptor/mentor presented. Issues related to student and preceptor role development and personal characteristics of both impacting on the relationship are identified. Implications for client health outcomes, educational programs, students, preceptors and nursing researchers are discussed.