LDC graduation has become an increasingly important issue in the international development agenda. Meeting graduation eligibility is a major goal of the Istanbul Plan of Action for the Least Developed Countries for the decade 2011-2020 (IPoA). But as countries’ concerns about graduation persist, the potential for additional tension has widened, particularly now that an increasing number of LDCs approach graduation. 1. Introduction -- 2. Leaving the LDC category: the process and experiences so far -- 3. Assessing the potential impact of graduation -- 4. Towards a more effective monitoring of the transition process -- 5. Additional smooth transition measures: capitalizing on graduation -- 6. Summing up.