Feminist thinking has contributed to changing views of women in society and in leadership positions. Yet women are still underrepresented in leadership, especially in key roles and at higher organizational ranks. In this commentary we examine the past, present, and future of leadership theories through a gendered lens, by considering them against the backdrop of feminist theory evolution. We first organize existing leadership theories according to four main feminist waves— gender reform feminism or “fixing the women” which corresponds with liberal feminism; gender resistance feminism or “the female advantage,” reflecting radical feminism; the gender rebellion feminism or “how is a wo(man) defined,” according to postmodern and intersectionality theories, and gender digital feminism or “hashtag and clicktivism revolution” that focuses on social media, cyber activism, sexual violence, and complex intersectionality. We further examine the implications and research findings of these theories for women and men in leadership. Second, we review the publications on gender and leadership in two exemplary journals publishing leadership research in the field between 2019 and 2022 and explore to which feminist wave the published works relate. We show that themes related to the first two waves of feminist thinking continue to be dominant in current leadership research and encourage moving into new terrains, utilizing current feminist thinking, in the study of leadership and gender. Finally, we raise awareness that in a gendered society, leadership theories may reproduce and reconstruct the existing social order and gendered arrangements, as well as map novel directions for future research.