This research study documents public school principals’ perceptions of their roles as leaders in reducing racialized educational inequities within their school communities, then examines the alignment between those perceptions and empirical evidence on racialized educational inequities in public schools. Additionally, this study analyzes the possible challenges for public school principals in implementing practices that address educational inequities in their schools. The theoretical frameworks of critical race theory (CRT), applied critical leadership, and developmental psychology—through the specific lenses of Racial Encounter Coping Appraisal and Socialization Theory (RECAST) and Phenomenological Variant of Ecological Systems Theory (PVEST)—are used to analyze how public school principals perceive racial equity leadership. Qualitative data draw from individual in-person interviews, while quantitative data utilize customized survey instruments that quantify participant demographic information, years of experience within the role, type of in-service support received, and school leader perceptions of racialized educational inequities in public schools. The goals of this research study are to (1) discuss principal perceptions of racialized educational inequities in public schools, (2) highlight the opportunities and resources needed to further support principals’ leadership development to address those inequities, and 3) inform the field of education of the possible challenges associated with racial equity leadership among public school principals.