Effective overburden stress can have a significant influence on cone penetration test (CPT) measurements. This influence can lead to an incorrect assessment of soil strength/resistance for such purposes as liquefaction triggering analysis. For an accurate measurement of tip and sleeve resistance, unbiased by overburden stress, it is essential to normalize these index measurements appropriately. Presented herein is a comprehensive study reviewing all aspects of CPT normalization. A result of this study is a variable normalization procedure for the CPT that is based on both empirical results and theoretical analysis. This paper presents these results in the form of an improved normalization scheme and discusses its application in practice.