This chapter describes the evolution of Quality Assurance in the Chilean higher education system. It emphasizes three relevant critical elements including the processes for conferring autonomy to private universities, the pilot project lead by the Ministry of Education, and the official status of the national higher education Quality Assurance system. There is also an analysis of the evolution of the Quality Assurance concept and related assessment mechanisms that during the past two decades have shifted in focus toward continuous improvement. The accreditation process for engineering programs and a brief case-study that highlights the effects of accreditation at the School of Engineering of the country's oldest University are described as well. In addition, this chapter presents a brief overview of Quality Assurance experiences in other Latin American countries and concludes by pointing out further directions for development.