We offer a comprehensive review of the theoretical underpinnings and existing empirical evidence in the implicit leadership and implicit followership theories domain. After briefly touching on the historical roots of information-processing approaches to leadership and leader categorization theory, we focus on current contextualized and dynamic perspectives. We specifically present neural network approaches and adaptive resonance processes that guide leadership perceptions. We further address measurement issues, emerging areas of study such as implicit leadership theories, and identity and cross-cultural issues. We offer specific avenues for future research in the form of a systematic list of unanswered research questions and further outline leadership development implications.