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Ideas and practices associated with inclusive education have featured prominently in the policies and reforms of successive Australian federal governments since the 1990s, yet there are limited historical analyses of these developments. This paper analyses federal and national inclusive education policies in Australia spanning from 1992 to the present. Drawing upon the concept of 'political rationality', the paper examines how the modes of reason underpinning inclusive education policies have evolved over time. Three distinct phases of policy development are identified, which we suggest are characterised by three dominant rationalities: (1) standardisation, (2) the neo-social and (3) personalisation. We argue that examining these rationalities reveals fundamental shifts in ways of thinking about and reasoning inclusive education in policy. We conclude by considering the implications of the different rationalities and single out the potential tensions emerging between rationalities of standardisation and personalisation as an area for future investigation. [ABSTRACT FROM AUTHOR]