E-portfolios are a new type of software and it is still relatively difficult to determine which functions are obligatory – that is which functions constitute characteristic features – and which functions are just optional (“nice to have”). This chapter describes the concept and the results of a research project that was conducted to evaluate e-portfolio systems and aims at providing decision guidance for implementing e-portfolios – first and foremost from the pedagogical perspective. It constitutes of two main parts: the first part introduces the method of evaluation and criteria checklist for e-portfolio systems, which can be used by institutions to carry out evaluations on their own, depending on their individual focal points. The second part demonstrates the application of this methodology through an evaluation carried out in 2009.