Preschool children’s collaboration is an interactive process in which children work toward shared goals, exchange and adjust ideas, coordinate their actions, and gradually share responsibility within an activity. STEAM activities, characterized by integration, hands-on experiences, exploration, and problem-solving, may provide favorable conditions for this process. However, children’s participation in the same activity or their joint production of an artifact does not necessarily mean that genuine collaboration is taking place. This article employs a literature review combined with thematic analysis to clarify the relationships among STEAM activities, children’s collaborative processes, and teachers’ guided support. Based on the synthesis of previous studies, the article proposes a conceptual analytical framework consisting of five components: STEAM task design, opportunities for interaction among children, children’s collaborative processes, increasing autonomy in joint activity, and teachers’ guided support. The first four components are organized in a logical sequence, while teachers’ guided support functions as a cross-cutting element that is flexibly adjusted according to the development of the activity and children’s needs. The proposed framework contributes an integrated approach to examining and organizing STEAM activities by focusing not only on the products children create but also on the processes through which they learn, coordinate with one another, and develop an increasing capacity to regulate joint activity.