["The Journal of Creative Behavior, Volume 60, Issue 3, September 2026. ", "\nABSTRACT\nWallas' four‐stage model has long served as a heuristic for understanding creativity, but contemporary metacognitive theory clarifies the mechanisms within each stage. This article reconceptualizes the model through the lens of metacognition, focusing on the role of knowledge, regulation, and experiences. In the Preparation stage, declarative, procedural, and conditional knowledge guide planning and problem representation. In the Incubation stage, stepping back from effortful processing while remaining open to associations represents a regulatory decision. In the Illumination stage, the sudden “Aha!” moment is best understood as a metacognitive experience that flags a candidate solution and signals further regulation. In the Verification stage, ideas are judged against internalized standards through monitoring, with subsequent regulatory decisions determining whether ideas are pursued, adapted, or discarded. Across stages, transitions are emphasized, and creativity is framed as a dynamic, self‐regulatory system. Revisiting Wallas' model in this way highlights that each stage involves distinct forms of knowledge, monitoring, and regulation, offering a more precise account of processes underlying his framework. This perspective yields testable hypotheses about stage‐specific regulation and points to interventions, such as explicit instruction and metacognitive feedback, that can strengthen creativity.\n"]