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One of the evolutionary adaptive benefits of altruism may be that it acts as an honest (reliable) signal of men’s mate quality. In this study, 285 female participants were shown one of three video scenarios in which a male target took £30 out of a cash machine (ATM) and gave either a lot (£30), a little (£1), or nothing to a homeless man. The participants rated the male target on his attractiveness, their short- and long-term mate preferences towards him, and the degree to which they thought he was likely to possess various parenting qualities. The results showed that, regardless of whether the man was described as rich or poor, participants rated him as being more attractive when he donated money, but only when the donation was costly (£30). In addition, altruism was shown to be important in long-term, but not short-term mate choice, and displays of altruism were associated with positive parenting qualities. It is argued that displays of altruism act as a reliable (honest) mate signal for a potential long-term parental partner.