In three experiments (N = 56, 99, and 225) we showed that racial phenotypicality bias characterizes educational expectations for Chilean mestizo students: Participants displayed more positive educational expectations for light complexioned than for dark complexioned high school students. In Study 1, with male high school target students, the relation between racial phenotypic appearance and educational expectations was mediated by differences in perceived competence. Study 2 suggests that the gender of the target student did not influence the occurrence of racial phenotypicality bias. Study 3 showed that racial phenotypicality bias occurs in both university students and high school teachers’ judgements. Although socio‐economic (SES) background of the target student partially explained the effects of racial phenotypic appearance (especially in teachers), the latter exerted an additional and independent influence on educational expectations. These results underline the fact that effects of racial phenotypicality bias should not be overlooked in the educational domain. As mediational analyses suggested, these effects only partly occur because of stereotypical associations between racial phenotypic appearance and SES background, but also because of stereotypical associations between racial phenotypic appearance and attributed competence.