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Delay of gratification is defined as a cognitive and motivational mechanism that leads to the choice of a later or more distant reward when a person is confronted with an immediate or close reward. Delay of gratification is one of the most important regulatory processes determining successful self‐regulation. Neuroimaging studies proved that the ability to delay has biological foundations, and high‐delayers revealed much better inhibitory control; i.e. a more active prefrontal cortex in tasks demanding inhibition, than low‐delayers. Delay of gratification measured in childhood predicts life outcomes, because it assesses the ability to self‐regulate, rather than intelligence.