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Accurate assessment of psychological self-concept in early childhood relies on the development of psychometrically sound instruments. From a developmental perspective, the current study revised an existing measure of young children’s psychological self-concepts, the Child Self-View Questionnaire (CSVQ; Eder, 1990), and examined its psychometric properties using a sample of preschool-age children assessed at approximately 4 years old with a follow-up at age 5 (N = 111). The item compositions of lower order dimensions were revised, leading to improved internal consistency. Factor analysis revealed 3 latent psychological self-concept factors (i.e., sociability, control, and assurance) from the lower order dimensions. Measurement invariance by gender was supported for sociability and assurance, not for control. Test–retest reliability was supported by stability of the psychological self-concept measurement model during the preschool years, although some evidence of increasing differentiation was obtained. Validity of children’s scores on the 3 latent psychological self-concept factors was tested by investigating their concurrent associations with teacher-reported behavioral adjustment on the Social Competence and Behavior Evaluation Scale—Short Form (SCBE-SF; LaFreniere & Dumas, 1996). Children who perceived themselves as higher in sociability at 5 years old displayed less internalizing behavior and more social competence; boys who perceived themselves as higher in control at age 4 exhibited lower externalizing behavior; children higher in assurance had greater social competence at age 4, but displayed more externalizing behavior at age 5. Implications relevant to the utility of the revised psychological self-concept measure are discussed.