Preceptorship has been consistently acknowledged in the literature as a strategy to maximize the benefits of clinical nursing education in terms of knowledge and skill acquisition, confidence, and professional socialization. Further benefits have also been recognized for preceptors, and for the broader health care agency. Despite recognition of the importance of this role, there has been no clearly articulated model of preceptorship that reflects the broader factors impacting upon the relationship between registered nurse and nursing student. This article presents a model of preceptorship that is directly based upon the preceptor-preceptee relationship and reflects the factors and influences that might impact, both positively and negatively, the strength and effectiveness of the relationship and subsequent learning outcomes. This model will provide a useful resource for the planning and implementation of a preceptorship program that maximizes clinical learning to the satisfaction of all stakeholders.