Between the elitist “philosophy is for grown-ups” and the demagogic “everyone can be a philosopher”, where does Philosophy for Children (P4C) belong in preschools? What is it assumed, expected, or intended to achieve? How is it implemented? This article reviews the literature evaluating the impact of P4C practices on preschool children (aged 3–6). It identifies the main actual or purported obstacles signaled by educators to argue that philosophy cannot be practiced before age 6. It then appraises, from a cognitive developmental psychology perspective, the reality of these supposed obstacles, considering the underlying developmental skills that very young children may lack compared with older ones. Finally, pedagogical adjustments to P4C school practices are suggested, illustrated, and discussed to adapt this program, initially designed and documented for elementary-school children, to the potential of preschoolers.