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In the first decades of the 20th century, Freud was known and quoted in Latin America by an elite of enlightened minds. In the 1940s a convergence took place in Buenos Aires of European exiles with local pioneers, and thus the Argentine Psychoanalytical Association was founded in 1942. Since then psychoanalysis has grown steadily and has spread into hospitals and universities, influencing culture at large. The socioeconomic situation of that time permitted this phenomenon to develop, to the astonishment of observers. In this paper the authors study the strong influence of Kleinian thought during the first 30 years of this development. The original works of local thinkers constitute the intellectual capital that sustains the idea of an ‘Argentine psychoanalytic school’. During the 1970s, both society and psychoanalysis endured deep and complex changes. Lacan's teachings gained support and Klein's influence began to decline. At present the Buenos Aires Kleinians keep working, while their relationship with Lacanians and other schools is calmer. Respectful discussions became thus possible, oriented to strictly scientific differences.