The cognitive approach to entrepreneurship is a response to the limitations of the trait approach. Its aim is to explain entrepreneurial behavior through cognitions. The main body of research has studied cognitive elements such as scripts, self-efficacy, cognitive styles and heuristics. Understanding entrepreneurial cognition represents a potential and productive field of research that, to date, has received little attention. In this article, we review and highlight the most important contributions of Cognitive Psychology to the field of entrepreneurship; we point out some of the limitations and suggest new avenues of enquiry.