The ongoing conceptual controversy of cultural competence for preservice teachers led to the current study that explored the underlying structure of cultural competence through exploratory factor analysis (EFA) and confirmatory factor analysis methods. A total of 793 preservice teachers from two large Midwestern universities completed the Multicultural Teaching Scale. Results of EFAs supported a two-factor solution of cultural competence: praxis and knowledge. The final model derived from EFA yielded a 28-item two-factor model that fits the data, where χ2/ df = 2.50, comparative fit index = .91, Tucker—Lewis index = .91, and root mean square error of approximation = .06. The model comparison results suggested that the two-factor model from the current study was the best fit for the data. These findings indicate a more parsimonious model of cultural competence and suggest that the current MTS structure should be revised to more accurately reflect the structure of cultural competence for preservice teachers.