There is now considerable evidence that neurotypical individuals track the internal cognitions of others, even in the absence of instructions to do so. This finding has prompted the suggestion that humans possess an implicit mental state tracking system (implicit Theory of Mind, ToM) that exists alongside a system that allows the deliberate and explicit analysis of the mental states of others (explicit ToM). Here we evaluate the evidence for this hypothesis and assess the extent to which implicit and explicit ToM operations are distinct. We review evidence showing that adults can indeed engage in ToM processing even without being conscious of doing so. However, at the same time, there is evidence that explicit and implicit ToM operations share some functional features, including drawing on executive resources. Based on the available evidence, we propose that implicit and explicit ToM operations overlap and should only be considered partially distinct.