To authorize science scholarships for educating mathematics and science teachers, and for other purposes.

10,000 Teachers, 10 Million Minds Science and Math Scholarship Act - Directs the National Science Foundation (NSF) to establish programs of grants to institutions of higher education for: (1) undergraduate scholarships and academic programs to recruit and educate elementary and secondary school mathematics and science teachers; and (2) master's degree scholarships and part-time graduate programs for inservice mathematics and science teachers.

Requires the NSF Director to: (1) increase the number of awards under the Teacher Institutes for the 21st Century program and allow its grantees to operate one- to two-week summer teacher institutes; (2) add to the Teacher Professional Continuum Program a grants component for preparing to teach Advanced Placement and International Baccalaureate science and mathematics courses; and (3) with a national panel and the Secretary of Education, disseminate effective materials and support development of new materials for K-12 science and mathematics teaching.

Authorizes, or extends the authorization of, appropriations for NSF programs established or revised under this Act, including NSF Instructional Materials Development, as well as for the Department of Energy's Laboratory Science Teacher Professional Development program.