This document presents a comprehensive evaluation policy in accordance with Executive Board decision 2006/9 on the evaluation function in UNICEF (E/2006/34/Rev.1). The purpose of the evaluation policy is to ensure that UNICEF has timely, strategically focused and objective information on the performance of its policies, programmes and initiatives to produce better results for children and women. The policy aims to foster a common institutional understanding of the evaluation function in UNICEF, and further strengthen evidence-based decision-making and advocacy, transparency, coherence and effectiveness. The paper is organized as follows: Section I presents the introduction; section II provides the background to the policy; section III defines the scope of the policy and guiding principles for the evaluation function in UNICEF; section IV describes the accountability framework for evaluation; section V puts forward measures to strengthen the evaluation system; section VI outlines the collaboration with partners in evaluation; section VII refers to the periodic review of the policy; and section VIII contains a draft decision for consideration by the Executive Board.