The necessity to include multicultural education policies and practices in schools and teacher education has been widely recognized both in Finland and internationally. However, terms such as 'multiculturalism' and 'multicultural education' have contested and vague meanings in educational discourse. This paper investigates discourses on multicultural education from critical multicultural education and postcolonial theoretical perspectives. The focus is on the teacher education policies of all the eight primary teacher education programmes in Finland. Discourse theory analysis revealed six diverging discourses within a framework of conservative, liberal and critical multicultural education. The results show that it should not be taken for granted that policies including multicultural education contribute to social justice in education and teacher education. Consequently, policy-makers need to question the rhetoric regarding multiculturalism and to focus on how inequality is reproduced and upheld in discourses in teacher education and schools, and how this can be challenged.