This article explores the development of strategic intelligence practice in Australia’s national intelligence community (NIC) since 9/11. It shows how strategic intelligence practice has been forged by both external (political and policy) and internal (institutional) factors over the last two decades. Key institutional factors that have either progressed or constrained the growth of strategic intelligence practice include leadership, organizational cultural, cognitive, technological issues and training and education. Despite constraints, strategic intelligence practice again is gaining more traction in the NIC. The article concludes with observations about how its value can be further optimized by the community in the future.