The Tempe Festival of the Arts consistently ranks among the Top 200 art festivals in the nation by Sunshine Artist and has received the Pinnacle Award from the International Festival and Events Association. The spring and fall events each attract nearly 225,000 visitors to the Mill Avenue District over the course of a 3-day weekend. More than 400 artist booths line Mill Avenue and the surrounding streets presenting unique, and hand-made artwork that offers visitors a distinctive shopping experience.

While the Tempe Festival of the Arts primarily focuses on art and the artists that create it, there are also a wide variety of other activities for guests to enjoy. Live entertainment stages provide musical entertainment for festival-goers. Performances by a number of well-known local musicians keep audiences in high spirits throughout the day. Past performers have included the Gin Blossoms, Walt Richardson, Margo Reed, and Hello Swindon. In addition to the scheduled entertainment, street performers, vendors, sponsor exhibits and entertainment booths are set up for the amusement of Festival visitors. In addition to arts and entertainment, the Tempe Festival of the Arts offers support to the Tempe community. A portion of the proceeds raised at the Festival benefits local charities.