The aim of this study is to analyze the concept of the theory and practice of the Fellowship Program Introduction to Teaching (Pibid), implemented by the federal government since 2007, in degrees, in general, and in the degree in Psychology in particular. This is on the assumption that this government program reflects some understanding of the theory and practice, in which the practice is seen as articulating element of this relationship, as it is conceived as a place of training and knowledge production. The theory, on this understanding, it would be the knowledge that comes from this practice. Thus, when analyzing the Pibid Psychology - UFG (campus Goiânia), proposes to discuss the limits, but also the possibilities of this project opportunities approaches between psychological knowledge and practice school, between the theoretical and psychological knowledge that comes the daily practice of the school at the same time creating training opportunities for both teachers, psychologists as to elementary school students.