Objectives. To develop a sustainable formal faculty mentoring program to support professional development of new faculty members at the Massachusetts College of Pharmacy and Health Sciences. Methods. Program components included a mentorship subcommittee, faculty mentoring guidelines, protégé/mentor pairs, an orientation, seminars/workshops, and meetings between mentor/protégés pairs. Preparticipation and postparticipation questionnaires about the faculty mentoring program were used to assess changes in perceived level of abilities of protégés and mentors in areas of teaching, service, and scholarship. Results. After 5 years, 93 protégés and 73 mentors have participated in the faculty mentoring program. Program evaluations were largely positive. Self-perceived abilities of protégés increased in all areas addressed, program self-study, faculty recruitment, grant application preparation, program development, and promotion process. Perceived abilities of mentors also showed some increases following the faculty mentoring program. Conclusion. Both protégés and mentors can benefit from mentoring relationships. Faculty mentoring programs are important for faculty development and retention and achievement of academic and institutional goals.