Brain tumors as a group are the most common solid tumors of childhood and currently have the highest mortality rate. A major emphasis has historically been placed on stratifying therapy for these tumors based on histologic and clinical prognostic factors. However, with the increasing application of molecular approaches to refine the categorization of these tumors, it has become apparent that histologically comparable lesions may exhibit diverse patterns of gene expression and genomic alterations, which may correspond with important prognostic distinctions. This paper summarizes these observations and discusses how they are being applied in a preliminary fashion as a foundation for risk-adapted stratification of childhood brain tumor therapy.