Just over two decades ago, in a Perspective article in the Journal of Product Innovation Management (JPIM), Tomkovick and Miller, called for the professionalization of new product development (NPD). Professionalization of innovation management (as the broader function in which NPD is embedded) was posited to require a combination of scientific knowledge coupled with specific expertise. We revisit that call to (1) assess whether innovation management has established itself as a formal, professional function similar to human resources or marketing, and (2) critically discuss whether (and if so, how) the professionalization of innovation management impacts both academic research and professional practice in the field. We suggest four tests as hallmarks of a profession and apply them to the emerging field of innovation management. Based on our findings, we propose a set of actions for innovation management academics and practitioners. We also recommend directions for future research to promote discussion on this topic within the JPIM community.