Within-species variation in traits such as petal size or color often provides reliable information to pollinators about the rewards offered to them by flowers. In spite of potential disadvantages of allowing pollinators to discriminate against less-rewarding flowers, examples of informative floral signals are diverse in form and widely distributed across plant taxa, apparently having evolved repeatedly in different lineages. Although hypotheses about the adaptive value of providing reward information have been proposed and tested in a few cases, a unified effort to understand the evolutionary mechanisms favoring informative floral signals has yet to emerge. This review describes the diversity of ways in which floral signals can be linked with floral rewards within plant species and discusses the constraints and selective pressures on floral signal-reward relationships. It focuses particularly on how information about floral rewards can influence pollinator behavior and how those behavioral changes may, in turn, affect plant fitness, selecting either for providing or withholding reward information. Most of the hypotheses about the evolution of floral signal-reward relationships are, as yet, untested, and the review identifies promising research directions for addressing these considerable gaps in knowledge. The advantages and disadvantages of sharing floral reward information with pollinators likely play an important role in floral trait evolution, and opportunities abound to further our understanding of this neglected aspect of floral signaling.