In recent decades, there has been a shift in the role of school principals from an administrative management approach to one that recognizes their more comprehensive leadership role and greater involvement in educational processes. Under this paradigm, a broad consensus has been established among school actors, academics and education policymakers, both at regional and international levels, around the demand for greater recognition and professionalization of the school management function. With this, a principal’s role that responds to the needs of schools and their communities, enabling effective changes and improvements in the learning and well-being of their students, is advocated. Based on data for principals collected by the Latin American Laboratory for Assessment of the Quality of Education (OREALC/UNESCO) in its fourth Regional Comparative and Explanatory Study (ERCE, 2019), a comparative analysis among 16 countries participating in the study is proposed. The analysis includes both characteristics of Principals (age and gender) and four areas identified as central to the professionalization of the managerial function: (i) the working conditions of Principals; (ii) the functions and practices associated with this role; (iii) the processes by which Principals are recruited and selected; and (iv) the initial and ongoing training available to Principals.