The healthcare world continues to evolve at an amazing speed with increasing individual and organizational accountability at the forefront. Experts agree that simulation is a valuable tool for healthcare education learning and for determining clinical competency. Although a variety of simulation-based learning experiences (SBLE) and simulation-based team training (SBTT) evaluation tools exist, there continues to be a need for establishing the validity and reliability of both the simulator and the tools. This chapter begins with a brief discussion of evaluation and its importance in SBLE, both today and in the future. It focuses on evaluation of the individual learner, including the differences between formative and summative evaluation and a discussion of self and peer evaluation, followed by an overview of the evaluation of team members during SBTT. The chapter concludes with a discussion of methods and current tools available for evaluating the simulation activity itself.