The interest in the evolution of current Passive Optical Network (PON) systems towards high data rate systems capable of providing a future–proof platform for delivery of truly subscriber oriented and personalized triple–play services resulted in recent kick–off of the 10 Gbit/s Ethernet Passive Optical Network (EPON) system standardization effort in the IEEE [1]. Ethernet PON has become a network of choice for low cost, subscriber oriented digital service delivery, taking over the market previously dominated by Digital Subscriber Lines (DSL) and cable modems. In this paper, we will examine the current development process of 10 Gbit/s EPON systems in more detail, standardized in the framework of the IEEE 802.3av Task Force, looking at the technical challenges, drivers and possible evolution scenarios of the emerging high data rate access systems.