The growth of the service economy in the contemporary world has resulted in a different set of requirements for effective leadership as compared with the industrial era, which focused primarily on manufacturing industries. To nurture “service leaders” in the service economy, the Hong Kong Institute of Service Leadership and Management proposed the service leadership model. The key characteristics of the service leadership model are outlined in this paper. A systematic comparison was also conducted to identify the common and unique features of the service leadership model with reference to the existing leadership theories, including the trait, servant, spiritual, authentic, ethical, transformational, charismatic, and top-down leadership approaches. The limitations and future directions for research in service leadership are also presented.