The “triple-win” concept is a hotly debated topic in contemporary migration policy. Adherents claim that it is possible to design and implement migration programs that are mutually beneficial for migrants, sending countries, and destination countries, while critics say that this expectation is naïve because they see insurmountable practical obstacles or generally believe migration to be a zero-sum game. However, the interest in a triple-win perspective has not emerged by accident: in fact, it is a reflection of profound changes in global migration patterns, with traditional South-North flows becoming more diversified, and with temporary and circular migration replacing unidirectional and permanent flows. In addition, the international debate on the relationship between migration and development has gained political momentum. There is a growing consensus that migration reduces poverty on an extraordinary scale, that well-managed migration is one of the most powerful enablers of development, and that migration should be more systematically included in national, bilateral, and international development strategies. This Migration Strategy Group framework paper critically assesses the triple-win idea, analyzing its potentials and weaknesses as well as some practical experiences. It proposes that triple-win concepts should be more systematically incorporated in migration policies, especially supported through additional pilot projects.