Pediatric interventions often aim at functional enhancements through reestablishing previously learned behavior patterns or establishing new patterns of activity. Recent advances in virtual reality technologies allow for controlled presentations of emotionally engaging background narratives to assess and train cognitive processing, affective experience, and social interactions. Within this context virtual reality can allow instructors, therapists, neuropsychologists, and service providers to offer safe, repeatable, and diversifiable interventions that can benefit assessments and learning in both typically developing children and children with disabilities. Research has also pointed to virtual reality’s capacity to reduce children’s experience of aversive stimuli and reduce anxiety levels. While there are a number of purported advantages of virtual reality technologies, challenges have emerged. One challenge for this field of study is the need for establishing the psychometric properties of virtual reality assessments and interventions. Furthermore, a consensus statement and guidelines are needed for ideal use of virtual environments with children and adolescents. It is the working group’s consensus that investigations into these future research endeavors have the potential to inform policy, theory, and practices. Specifically, the addition of virtual reality platforms to pediatric assessments and interventions offers an opportunity for advancing our understanding of the cognitive, affective, psychosocial, and neural aspects of children as they take part in real-world activities.