This study reports the development of “Professional Standards for Elementary Mathematics Teachers” (PSEMT). Based on national standards used in other countries, the proposed PSEMT were developed in three steps: (1) a complete analysis of literature was conducted to form a draft of the standards; (2) opinions of experts and teachers were consulted to modify the standards; and (3) the level expected to meet the goals of each standard was set. The PSEMT development utilized content analysis, focus group discussions and survey data. The resulting standards contain three domains, eleven standards and twenty-six indexes including detailed information and expected achievement levels for different subjects on each index. In developing the PSEMT we found that teacher candidates must strengthen their professional knowledge because, as their career developed, how to put their knowledge into practice is considered more importantly. As for excellent teachers of mathematics, they may need to emphasize on their professional attributes.