New Spanish versions of the Minnesota Multiphasic Personality Inventory-2 (MMPI-2) and the Personality Assessment Inventory (PAI) were assessed with the Spanish translation of the Diagnostic Interview Schedule (DIS) as the gold standard. Findings from categorical and dimensional analyses suggest that, although the degree of diagnostic concordance of both measures with the DIS was found to be moderately high, the MMPI-2 clinical scales yielded greater specificity but lower sensitivity than the PAI scales on two of four diagnostic categories (i.e., Major Depression, and Schizophrenia). Both measures failed to correctly diagnose Anxiety Disorders, while the MMPI-2 also showed poor diagnostic accuracy with Alcohol Dependence.