Uninformed of the power of play as an educational tool, many people view play as a waste of time and call for a return to teaching basic academic skills during the period of early childhood. This chapter demonstrates that play is a major vehicle for learning, focusing on the dynamics of sociodramatic interaction that are integral to understanding related aspects of development and education. The chapter begins with a consideration of the definition of play and proposes that young children's play is symbolic, meaningful, active, pleasurable, voluntary and intrinsically motivated, rule-governed, and episodic. The essay discusses major psychological theoretical positions regarding play, including Piagetian and Vygotskian theories, and cultural perspectives conceptualizing play as a categorization frame and considering the importance of play contexts. The transformational dynamics of play are considered through an examination of script theory, narrative structures, theory of mind, and complexity theory. The chapter continues with an examination of the relationship of play to social, imagination, cognitive, and literacy development. The chapter addresses the implications of play research for curriculum development for young children, including ways of encouraging play through modeling, planning with children, and playing with language; and using the power of play to strengthen worthwhile, meaningful learning and cooperation with others. Contains approximately 150 references. (KB)