This study focuses on ethical dilemmas that arise in moments of inclusion and equity in mathematics teaching and how they might be tackled through teachers’ professional judgment. Skovsmose’s inclusive landscapes of investigation approach was used to design the study and to collect teachers’ joint reflections on moments of inclusion and equity in their teaching. Ethical dilemmas and professional judgment were the analytical foci for a qualitative thematic content analysis. Three explorative workshops were held with two teams of teachers from two schools in Sweden. The analysis identified three themes of ethical dilemma, and ways in which these were responded to by teachers’ professional judgment: (1) dilemmas of diversity and acting justly; (2) dilemmas of resources and allocating them fairly; (3) dilemmas of values and recognising diversity. We conclude that mathematics teachers’ professional judgments involve showing bravery, going outside of the norm, negotiating values and duties, listening to the students, and throughout this, engaging in collegial learning in the best interests of the learner.