Guava plays an important role in Brazilian agribusiness.Among other goals, guava breeding programs aim to achieve more productive cultivars and improved fruit quality. Thus, the present study aimed to investigate genetic variability in full-sib progenies of Psidium guajava (guava) and estimate the genetic progress obtained from different selection criteria in order to select the most promising genotypes. This is the first work that uses these criteria of selection to guava. The experiment was conducted in randomized block design with 2 replicates, and 10 progenies were Received: Oct. 8, 2015 -Accepted: Feb. 17, 2016 predicting the genetic gain between and within progenies. The 5 best progenies among those analyzed and 4 plants within the progenies were selected. Direct selection provided higher gains for number of fruits, and indirect selection generated small gains for the other traits. When the trial values were used as economic weight, the classic index was the selection criterion that showed the best results for gains in fruit number and fruit weight, being indicated as the most appropriate selection strategy for genetic breeding in the studied population.