The authors conducted a randomized controlled trial study with 56 elementary school children to test the effectiveness of 16 sessions of individual and group child‐centered play therapy (CCPT) in improving social‐emotional assets, including self‐regulation/responsibility, social competence, and empathy. Parent reports indicated that treatment in both CCPT conditions was correlated with substantial gains in overall social‐emotional assets and in the constructs of self‐regulation/responsibility and social competence.