Evidence suggests that a close interpersonal bond is important for the success of youth–adult mentoring relationships. Mutuality has been suggested to be important for developing a close interpersonal bond (Rhodes, 2002, 2005), but mutuality remains an abstract construct, difficult to understand and cultivate. Using thematic analysis of mentor and mentee (n = 42) interviews, we investigate how mentoring pairs reflect on mutuality. Results suggest that mutuality is understood as a combination of 2 dimensions: shared relational excitement and experiential empathy. Shared relational excitement is felt when there is a genuine desire by both the mentor and the mentee to invest in the relationship. Experiential empathy is the process through which mentors connect with, advise, and normalize the experiences of their mentees by sharing their own relevant experiences. This work has implications for mentor training, program development, and future research on youth–adult relationships.