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Is psychodynamic therapy (PT) an evidence-based practice? What makes PT work? In the present article we shall discuss empirical evidence for these as well as other vital questions. First, we shall examine the existing findings concerning two of the most widespread myths about PT: (1) PT is not an evidence-based therapy; (2) PT is not directed at and, therefore, not effective at alleviating symptoms. Second, we shall examine some of the existing findings regarding what it is that actually enables change in PT. The aim of the article is to provide some access to the knowledge accumulated from numerous studies on PT treatments, conducted by dozens of therapists, with the hope that it will benefit clinicians.