Today’s concept of giftedness has been broadened to include considerably more than academic capability as measured by I.Q. tests, yet, the call for broader conceptualization has essentially resulted in further test orientation. There is a need for a model that would enable one to conceptualize giftedness in terms other than testable skills. This paper presents a psychological model of giftedness that accounts for intellective and non-intellective dimensions, especially those of imagination and feeling. The model rests on the concept of developmental potential taken from a theory of human development. The value of this concept lies in that it gives readily identifiable components: special talents and abilities and five forms of psychic overexcitability: psychomotor, sensual, intellectual, imaginational, and emotional. Specific examples of expressions of overexcitability identified in case data with gifted are given.