The order Falconiformes is represented by the extant family Falconidae and a handful of enigmatic Paleogene species. Traditionally, the other bird of prey families Cathartidae, Sagittariidae (secretarybird), Pandionidae (ospreys), Accipitridae (hawks) were classified in Falconiformes. A variety of comparative genome analysis published since 2008, however, found that falcons are part of a clade of birds called Australaves, which also includes seriemas, parrots and passerines. Within Australaves falcons are more closely related to the parrot-passerine clade (Psittacopasserae), which together they form the clade Eufalconimorphae. The hawks and vultures occupy a basal branch in the clade Afroaves in their own clade Accipitrimorphae, closer to owls and woodpeckers.

The falcons and caracaras are around 65 species of diurnal birds of prey that make up the family Falconidae. The family likely originated in South America during the Paleocene and is divided into three subfamilies: Herpetotherinae, which includes the laughing falcon and forest falcons; Polyborinae, which includes the spot-winged falconet and the caracaras; and Falconinae, the falcons and kestrels (Falco) and falconets (Microhierax).