Does gender equality matter for fertility? Demographic findings to this question are rather inconclusive. We argue that gender equality is a complex issue that needs to be conceptualized in a way which includes gender equity and allows for gender differences but uncovers gender inequalities. We explore this approach by investigating the impact of four dimensions of gender equality on women´s and men´s childbearing intentions in Europe: the possibility to maintain a household, the capabilities to choose, the resources to have agency, and gender equity in household work and in care. We apply logistic regressions to data of the Generations and Gender Survey. Our results suggest that gender equality and fertility intentions are intertwined in a multi-faceted way, and that gender equality in the areas which we examine exert different impacts on women’s and men’s childbearing intentions. Our study also confirms that parenthood still constitutes a dividing line between more and less gender equality, and that this affects childbearing intentions of childless women and childless men differently than that of mothers and fathers. This necessitates an approach which allows identifying the essential gender inequalities in employment, in society, and in the family which matter for childbearing decisions.