While a number of remarkable discoveries in astronomy and astrophysics have taken place over the past 20 years, many important questions remain. Continued progress in these fields will require NASA's leadership. To help determine if NASA can meet this challenge, Congress, in the 2005 NASA Authorization Act, directed the agency to have "the performance of each division in the Science directorate...reviewed and assessed by the National Academy of Sciences at 5-year intervals." In early 2006, NASA asked the NRC to conduct such an assessment for the agency's Astrophysics Division. This report presents an assessment of how well NASA's current program addresses the strategies, goals, and priorities outlined in previous Academy reports. The report provides an analysis of progress toward realizing these strategies, goals, and priorities; and a discussion of actions that could be taken to optimize the scientific value of the program in the context of current and forecasted resources.